More than half of investors believe the global economy will improve in the year ahead, according to BofA Merrill Lynch’s February Fund Manager Survey. February marks the fourth month in a row of surging investor sentiment.

Thirty-nine percent of the panel said profits worldwide will improve in the coming 12 months, up from a net 29 percent in January. Forty-eight percent of investors said higher capital expenditures is the best use of corporate cash. This was the highest reading since April 2011.

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