Improved market conditions and signs of economic growth have put global equities back in favour with investors, with a bullish outlook for emerging markets, according to Bank of America Merrill Lynch's survey of fund managers for February.

The survey reports the largest one-month leap since the beginning of 2011, with 26% of asset allocators being overweight equities in February, up from 12% in January. Emerging markets equities have been benefiting from the bounce back in risk appetite, with 44

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