The striking success of the eurozone’s €440bn bailout fund in raising debt last month was a reminder that institutional investors are pouring money into eurozone sovereign bonds, despite the distress of the bloc’s peripheral nations.

This might not be such a good idea, judging from the views of advisers to European retail investors expressed in a survey by Baring Asset Management. The findings, published last week, show that eurozone debt is considered the most significant threat to investment growth over the next six months.