Research by Bank of America Merrill Lynch revealed that a third of respondents said that the US possesses the most favourable outlook for business profits while 41 per cent claimed that the eurozone had the least positive outlook.
The spread of 74 points represents the largest gap between the two views since July 2003, researchers explained.
According to the survey, the results indicate an increasingly negative outlook due to concerns over the financial stability of Europe in the wake of Greeceâs debt crisis.
As a result the percentage of investors confident about the prospects for the global economy fell from 61 per cent to 42 per cent between April and May.
Nearly half of those questioned now expect the value of the euro to fall, up from almost a quarter who held the same view in the previous monthâs survey.
Gary Baker, head of European Equities strategy at BofA Merrill Lynch Global Research, said: âThe survey shows that investors have capitulated on Europe, beaten down by sovereign debt concerns and faltering growth expectations."
Further findings revealed that 90 per cent of fund managers now think that the European Central Bank will not increase interest rates in 2010.
By Jim Ottewill