Global investors increasingly are turning to U.S. and emerging market equities as Europe’s economy continues to falter.

According to the BofA Merrill Lynch Survey of Fund Managers for November, investors have slightly increased their exposure to equities since October’s survey. Five percent of the panel is underweight equities, down from 7 percent a month ago, and the number of investors who are overweight in U.S. equities rose sharply to 20 percent from 6 percent in October.

Global emerging markets bounced back after a weak October. Twenty-seven percent of investors are overweight the region, up from 9 percent last month. The Eurozone remains the least popular region, but the number of investors underweight Eurozone equities ticked down just 1 percentage point to 30 percent.

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