The majority of investors are not rejigging their portfolios in reaction to the ongoing unrest in the Middle East, according to Barclays Stockbrokers.

60 per cent of the 554 investors taking part in the Barclays survey said ongoing protests in the region have not influenced their choices within their ISA and SIPP portfolios.

Of the 40 per cent that are making changes, however, 23 per cent are considering oil, gold and other commodities and one in ten say they are refocusing on developed equity markets such as the UK and the US.

Eight per cent said they are unsure of the prospects for the Middle Eastern region and are therefore reducing their exposure to companies with interests there.

Paul Inkster, head of product at Barclays Stockbrokers, said events in the Middle East have dominated the news agenda but only some of the company’s clients are shaking up their portfolios.

He explained, ‘We see some investors reacting to developments by adjusting their tax efficient investment portfolios - in some cases by turning to traditional ‘safe havens', such as more developed markets and gold.

‘Wherever investors choose to invest, making the most of tax allowances is crucial to maximising the returns from investments.

'Combining these with tax efficient investment accounts - Investment ISA and SIPP - allows investors to be in complete control of their investments whilst managing the tax they pay.’