LONDON (Reuters) - A growing belief among British investment managers that fears of a renewed economic slump are overblown has halted a five-month decline in allocations to stocks, according to a Reuters poll.

The survey of 11 British fund managers polled on asset allocations in August shows the average exposure to equities jumped more than three percentage points from a month earlier.

The average allocation to equities climbed to 49.8 percent in August, compared with 46.4 percent in July. Allocations to bonds fell to 24.2 percent from 25.5 percent.

The move to shares follows five months in which managers pared allocations to stocks, mostly in favour of bonds, on worries about the sustainability of the global economic recovery.