Investors' confidence in the global economy has risen to its highest point in six years, leading a large number of fund managers to shift assets into equities, according to the latest monthly survey of professional investors by Bank of America Merrill Lynch.

A net 75% of survey respondents said the world economy will grow over the next 12 months, the highest proportion since November 2003. It coincided with the most bullish assessment of corporate growth for over five years: a net 70% of respondents said global corporate profits will rise in the coming year.