Peter Davies may be running one of the best-performing hedge funds in the world but if there was one piece of data he could get his hands on for next year, it would be the results of the US presidential election.

Davies and his co-manager Stuart Roden at Lansdowne Partners have good reason to be preoccupied with such issues, given the way political risk has this year wrongfooted their Lansdowne UK Equity fund - the firm's biggest hedge fund with $7.8bn of assets under management.