David Coombs, head of multi-asset investment at Rathbone Unit Trust Management, is hedging portfolio against a market fall as the U.S. recovery looks set to bring an end to quantitative easing. 

Coombs fears the rising equity market in the US may lead to a sooner-than-expected change in QE3.

"One of my concerns is the positive data from the US this year may spell the end of QE, and markets would enter a discount cycle, as investors tend to start worrying about changes in monetary policy six months before they actually happen," he said.