Taxation changes are the biggest geo-political risk for the UK according to Martin Currie's Kim Catechis.
Speaking at the Morningstar Investment Conference in London today, Mr Catechis looked at growth in global emerging markets.
When asked by a delegate about the biggest geo-political risk for the UK, Mr Catechsis cited taxation.
He said: "We have blind spots such as gas sector. I don't care who sits in the big chair I just need to understand their motivation which impacts on taxation which impacts on my company.
"Rex Tillerson, chief executive of Exxon, said that over the last nine years our tax treatment of his oil and gas fields have changed 16 times. But the biggest risk depends on the eye of the beholder."
In an interactive poll of the audience, delegates named the Middle East and the Korean peninsula as the biggest imminent geopolitical issues at the moment.
Mr Catechis then looked at GDP growth of emerging markets such as Thailand, GDP growth of 4.1 per cent, and South Africa, GDP growth of 3.4 per cent, but said GDP was overall irrelevant.
"GDP growth is irrelevant, companies will make money in any scenario. If you have to cope with dictatorships and military coups over 50 years then you become more innovative."
Speakers at the event today include Greg B Davies from Barclays Wealth, Holly Mackay from The Platforum and Stephen Snowdon from Kames Capital.
Topics include the 'long finance movement', risk aversion, global emerging markets and behavioural finance.
There will be a panel session on platform investment trends with Mark Polson from the Lang Cat, Ian Taylor from Transact, Tom Sheridan from Seven Investment Management and Graham Bentley from gbi2.
There is a dedicated Morningstar Conference mobile/tablet app where delegates can access presentations, videos and speaker profiles.