While Wall Street saw record highs and world equity markets hit six-year peaks in 2013, seven out of 10 investors surveyed by British fund manager Schroders
"The overall feedback was
The group surveyed 15,749 investors in 23 countries who intended to invest at least 10,000 euros or the equivalent over the next 12 months.
It found 41% planned to invest in their own country, the rest in international equities or other asset classes. Around two in five respondents saw the best growth opportunities in Asia Pacific. Three in 10 looked to North America.
Of those surveyed, 56% said they were more confident than last year about investment opportunities - an improvement from 48% in the same survey last year.
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The biggest concern raised by 26% of respondents was tax increases, with a proposed financial transaction in the European Union potentially placing a charge on share trading.
Around a quarter of global investors also flagged worries over untamed inflation - despite persistently low inflation forecasts in the euro zone - and a prolonged economic recovery, both in their own country and internationally. The International Monetary Fund forecasts global growth of 3.7% this year.
The survey also found investor confidence for the year ahead was lowest in the United States. Particular concerns were tax rates and the robustness of the global and domestic economic recoveries.
"You could be up 20 to 30% in 2013 (through US investments), which was very strong, so maybe the retail US investor thought, 'That's pretty good, I don't think we'll have back-to-back years like that,'" said Carter Sims, Schroders' US head of intermediary distribution.