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By Christine Gaylican, Opalesque Asia:

As the year 2009 draws to a close and investment portfolios are being prepared for 2010, some managers surveyed by Russell Investments are now less pessimistic about the global financial downturn. They are more bullish and believe that things will get better from this quarter onwards and in 2010.

Russell Investment's quarterly Manager Outlook-09 for September, which was based on a survey conducted on 217 senior-level investment managers in the U.S. representing 157 investment firms, tried to reveal investment trends that could directly impact investment strategies for the near to medium term.

Changing view on U.S. equity markets

More than half, or 54% of the surveyed investment managers believe the U.S. equity market is now fairly valued. The remaining managers were, however, split nearly evenly between believing the market to be undervalued or overvalued, 24% and 22%, respectively.

The survey indicated that managers now consider corporate bonds as a less attractive placement, though still safe in a broader term.

According to Russell Investments's director for client investment strategies, North America, Mark Eibel, managers are seriously considering the impact of the unemployment rate on the country's full economic recovery.

"They feel uncertain about the unemployment picture, which is a critical component to any improvement in the economy. However, Russell currently doesn't expect employment to......................

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