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SAN FRANCISCO (MarketWatch) -- Fund managers are more bullish towards global equities than at any time in the past decade, according to a survey released Tuesday. Of the 188 fund managers polled around the world, a net 67% say they are overweight global equities, which is the highest reading since the survey began asking the question in April of 2001, according to the Bank of America Merrill Lynch Fund Manager Survey for February. The survey also noted an increase in risk appetite with only a net 5% of fund managers overweight global emerging markets equities, down from January's net 43%. A net 70% of investors now see the Federal Reserve raising rates in the next year, up from 62% a month ago.