More than half of large institutional investors in Europe and North America believe the political turmoil over Brexit and the ongoing trade war between the US and China will hurt their investments over the coming year – a sharp jump from last year.

Schroders, the fund manager, surveyed 650 large institutional investors overseeing $25.4tn collectively and found 52% expected global political events would negatively affect their investments. That was an increase from 44% in 2018 and 32% in 2017.