Yogesh Dewan is the chief executive officer of London-based Hassium Asset Management LLP. He tells The Wall Street Journal why he is staying cautious on equities.

Despite an improving economic environment, we see cause for concern regarding the recent turmoil in Europe and Greece. There are also some broader overlooked risks: inflation and asset price bubble worries in China, Japan's growing debt burden, likely further bank write-downs on the back of exposure to PIIGS (Portugal, Italy, Ireland, Greece and Spain) and renewed pressure from upcoming residential and commercial mortgage resets.