US retail investors are shifting their assets out of cash and money market funds into riskier assets, although they are expected to stick to more conservative investments in the wake of the financial crisis, a survey has found.

A survey by investment banking boutique Keefe, Bruyette & Woods found that nine out of 10 retail fund distributors in the US believe that retail investors are now more willing to shift assets out of cash and money market funds than they were earlier in the year. About two-thirds of the respondents said that investors would only come back "slowly" to make new investments.