Fund managers are more optimistic about the outlook for equities this year, although they are still concerned about medium-term government bonds and world growth, according to a survey of investment managers and economists from Towers Watson.

The survey included responses from 128 professionals with years of experience and trillions of dollars of assets, both institutional and retail, under management.

"What surprised us was the response to what clients will be doing in terms of their portfolios  with regard to risk. More people this year thought their clients would actually add risk," Matt Stroud, Towers Watson's head of investment strategy, Americas, told BenefitsPro.com.

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