Nine in ten (89%) of the 756 investors surveyed by investment manager Raw Capital Partners said inflation was a high risk or moderate risk to their portfolios.

This was closely followed by a slow economic recovery in the UK (885), and geopolitical conflict (87%).

Other risk factors cited by investors were the US presidential election (81%) and climate change (79%).

Ben Nichols, interim managing director at RAW Capital Partners, said: “Most analysts and economists now suggest that the global economy has turned a corner, but our research suggests there remains a broad and pervasive anxiety among investors towards the current and future state of the investment landscape.

“With this in mind, investors must recommit to implementing robust risk management strategies to protect their investments against any volatility that these risk factors could produce. This means constructing balanced and diversified portfolios that are resilient enough to weather economic uncertainties, thereby enabling investors to stay on track with their long-term investment objectives.”

CPI inflation remained at 2% in June, the same as May, the ONS reported in mid July.

CPI inflation has now stabilised after a rapid descent in recent months. It fell in May to 2% from 2.3% the previous month. It peaked at 11% in 2022.

CPIH (CPI plus housing costs) rose 2.8% in the 12 months to June, the same as the 12 months to May.

• Opinium surveyed 756 UK-based investors with investments over £25,000 between 13 and 18 June.