Rob Burnett, head of European equities, Neptune
Compounding the gloomy outlook among investors is the ratcheting up of event risk. Brexit is looming largest, driving down sterling and threatening a period of sustained instability.
In the second part of this special Big Question, managers assess the risks and rewards of investing in this sector in the current climate.
Could face costly regulatory barriers
Was it hopes disappointed, or simply more of the same? Or both? 2015 continued to be characterised by what is widely perceived as 'dull world growth', writes Cazenove Capital CIO Richard Jeffrey.
Equity markets across the globe have staged a come-back after falling into a bear market earlier this week, boosted by hopes of further stimulus measures from the ECB and a 6% rise in oil prices.