Nine out of ten fund managers 'optimistic for 2011'

Optimism is high among investment managers that asset values are set to surge in 2011, a survey has revealed, news which could be of interest to those with private wealth.

A survey by the Association of Investment Companies found 92 per cent of fund managers believe markets will rise, as opposed to around three-quarters this time last year.

Meanwhile, four-fifths of respondents named equities as the assets that will perform best, with more than three-quarters specifying natural resources as potentially the most profitable sector.

AIC acting communications director Ian Overgage said after steady FTSE 100 growth in 2010, the recovery seems set to continue but warned investors to be wary of ploughing all of their assets into one area as the top performers will be hard to predict.

He commented it is "important to take a long-term view on your investments and make sure that you have a balanced portfolio and don't get too led by stories of the next 'hot sector'".

The FTSE 100 rose to a five-week high on Monday (December 13th) of 5,860.75.ADNFCR-2318-ID-800295722-ADNFCR