The founder of boutique Edinburgh Partners, Sandy Nairn, has become the latest highly rated equities investor to back a re-entrance into the asset class, arguing that the risk of sitting on cash "is growing by the day".

Nairn, whose boutique now manages £4bn (€4.3bn) of assets, up from £3bn a year ago on the back of substantial inflows, said that investors should reinvest in the stock market as there was an increasing risk in sitting on cash.