Investment managers remain bullish on the financial marketsdespite equities' roller-coaster ride this summer and the subprimemess, according to Russell Investment Group's third-quarterInvestment Management Outlook.

About 85% of the more than 340 respondents consider stocksfairly valued or undervalued. “The most basic attitudes ofinvestment managers toward U.S. equity markets have notsignificantly eroded,” says Randy Lert, chief portfolio strategist,Russell Investment group, according to the survey taken betweenAug. 27 and Sept. 4.

Still, interest in fixed-income investments soared. Bullishnessfor corporate bonds more than doubled to 31% from 15% in the secondquarter. High-yield bonds increased to 21% from 12%, while U.S.Treasuries recorded one of the most bullish scores of the past 14quarters, increasing to 33% from 19% in the same periods ayear-earlier.

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