LONDON, June 30 (Reuters) - Confidence among institutional investors rose for the sixth month in a row in June, hitting the highest level in a year, U.S. financial services firm State Street said on Tuesday.
The global State Street Investor Confidence Index hit 115.5 this month from an upwardly revised 108.5 last month.
The index has been above 100 -- the level considered to be neutral -- for three consecutive months, coinciding with most of the stock market rally that began in March.
It has also increased every month since December.
"Notwithstanding some concerns around the long-run sustainability of fiscal positions and the impact of quantitative easing on inflation, institutional investors continue to endorse the long-run outlook," said Ken Froot, co-developer of the index.
Confidence was up most strongly in Europe, where the index rose to 95.0. Morale also improved robustly among North American investors, climbing 6.2 points to 113.6.
In Asia, risk appetite was down slightly, with the index falling 1.3 points to 92.1.
The data is extrapolated from movements in around $11.3 trillion of assets State Street holds as custodian for institutional investors. (Reporting by Natsuko Waki, editing by Mike Peacock)