Investec's Brazier: We are entering biggest period of uncertainty since 2008

Investec Asset Management's Simon Brazier has warned investors on the higher volatility likely to be experienced in 2015, pointing to a backdrop similar to the year in which Lehman Brothers collapsed.

The manager of the £146m UK Alpha fund, who took over the fund in November 2014 after joining Investec from Threadneedle, said it will be more difficult to find opportunities in an environment of weak economic growth and increased geopolitical risk. "We are entering the biggest period of uncertainty for equities since 2008. Over the past five years, we have seen a lot of macro uncertainty, but we have still been able to buy companies at very good and cheap valuations. "With where valuations are today after the re-rating of the market, it is not so easy. The outlook from here is quite ...