Nearly two-thirds of fund managers say the financial crisis has not yet ended, according to a survey by FTI Consulting reported by Bloomberg. There was most pessimism from the UK, the US and Australia.

Florida-based FTI said 153 investors with $2.8 trillion of equity funds under management took part.

FTI’s chief executive officer Jack Dunn said: “Investors were still concerned that the amount of leverage in the system that caused the original problem has not been reduced. There has been so much economic stimulus that markets cannot help but go up. The concern was what would happen when government money runs out.”