Citywire recently gathered three of the UK's leading fund investment heads to discuss what they fear - and what makes them cheer - about the year ahead.

Rich valuations, high levels of debt and the potential potholes of quanitative unwinding were among the topics up for debate.

But it wasn't all doom and gloom with the outlook for equity earnings seen as an unambiguous cause for cheer in global equity markets.

Moderated by Citywire’s executive chair, Lawrence Lever, and the head of investment research, Frank Talbot, the senior trio also clash over where best to allocate their own capital given the existing investment climate.

Taking part in the chat were: