Many market participants take the view that the improved economic outlook will lead to interest rates increasing, denting the competitiveness of Eurozone companies.
But Mr Bell said the reason central banks put interest rates up as the economy grows is to combat inflation.
As he expects inflation to stay low, Mr Bell also expects the European Central Bank (ECB) to move very slowly in putting interest rates up.
David Jane, who jointly manages £750m at Miton, said he has been preparing his portfolios for a world of low interest rates as he feels central banks are in completely uncharted waters as they try to move the global economy away from low interest rates.
Mr Jane said this move away will be gradual and interest rates will stay low, supporting equities.
Simon Edelsten, who runs the £152m Mid Wynd Investment Trust, said his aversion to investing in the Eurozone is not a comment on the outlook for the economy, but rather because he feels the sectors which will drive growth in the years to come, such as technology and disruptive healthcare, are much less available in the Eurozone than elsewhere.