Most money managers around the world are unconcerned about a predicted downturn in global economies this year, according to a survey by independent market analyst Datamonitor.
'Despite the evidence that major world economics are heading for trouble, only five of the 65 wealth managers we surveyed said that a potential recession worries them most,' said Datamonitor's financial services analyst Michele Gorman.
Separate research by the firm last November found that only 17 per cent of independent financial advisers, who act as the main point of contact for life insurance companies, were concerned that there could be a possible recession in this year, while 34 per cent said they were unconcerned.
Many economists have warned that the United States is on the brink of recession, and there has been a spate of sharp interest rate cuts by the Federal Reserve in the hope of kick-starting the ailing economy.
There are strong indications that the Federal Reserve will make further aggressive rate cuts this year.
The country's economic woes were sparked by the subprime crisis and excessive borrowing by US consumers. The subprime crisis has caused many homeowners, who have overextended their borrowings, to lose their properties. Mortgage delinquency has risen as a result, while property prices in the US are falling, according to recent data.