So with bouts of disruption likely over the next few months, what can UK investors do to mitigate the risks? A more global approach is one option through a shift away from domestically focused businesses towards more overseas earners, which should benefit from any sterling weakness.
A carefully selected basket of UK large-caps can provide broad exposure to global growth, which could help investment performance if the UK economy weakens. Overseas equities, particularly in the US and non-sterling denominated bonds, could also provide relatively attractive returns.
But equities are vulnerable to political uncertainty heading into 2015.
David Coombs is head of multi-asset investments at Rathbones