Nine out of ten financial advisors and investment intermediaries in the UK view the eurozone debt crisis as the biggest threat to global growth over the next six months, a new survey has found.

The ninety-two per cent of respondents who cited Europe as the main risk in Barings' latest quarterly study represents an increase from 84 per cent in the last quarter.

The growing concern about the Spanish economy is also reflected in the increase of participants fearing a new banking crisis. That risk was cited as a concern by 39 per cent of respondents, compared with 28 per cent in the last survey.

Investors' attitudes towards Europe were reflected in their views on asset classes. Almost six out of ten said they are either quite or very unfavourable towards European equities. By contrast, 91 per cent are favourable towards both emerging markets and Asian stocks.

Despite mixed economic data of late, investors are most upbeat about US equities, with 94 per cent regarding them as a favourable opportunity, up from 89 per cent last quarter.

On the issue of tackling increased volatility, two thirds of respondents said that portfolio diversification has become key, followed by 44 per cent who highlighted the importance of risk management.

Baring Asset Management surveyed 78 investment professionals in the UK for the survey.