U.S. funds hold portfolios steady at the start of the year: Reuters poll

Global equity allocations accounted for an average 57.1 percent, same as the previous month, with recommendations for bonds at 35.1 percent versus 35.2 percent, according to the latest poll of 13 fund managers taken Jan. 15-30.

That comes despite Wall Street hitting a succession of record peaks, building on further on a global equities rally over the past year on strong world growth and higher corporate earnings.

But the recent surge in U.S. long-term bond yields to near four-year highs has tempered the rally in the past few days.

U.S. Treasury yields climbed to multi-year highs after the start of the Federal Reserve's two-day meeting on Tuesday, which is likely to result in no policy change, but could shed light on how soon the next interest rate rise will come.

"A wait and watch approach is warranted with conflicting signals from what major central banks want to do and inflation despite solid performance of the global economy," a fund manager at a large U.S. investment firm.

"We need more time to see how markets react to central banks moving away from easing (monetary policy) ahead of inflation."

Solid growth momentum in developed economies will push the global economy to cruise at a robust pace this year and reach a high not seen in eight years and revive inflation.

Those expectations were mostly driven by solid growth momentum in developed economies, particularly the U.S. and euro zone.

Regional breakdown for global equity allocations showed an increase in U.S. assets to the highest since the middle of last year, according to the latest poll.

(Reporting and polling by Rahul Karunakar and Sujith Pai; Editing by Raissa Kasolowsky)