He said this mispricing provided opportunities for hedge funds.
"We think the pricing surrounding 'Brexit' and the pricing surrounding a Chinese devaluation are the best opportunities for what we do this year," Martin told CNBC on Tuesday.
"The clear trading exposures (for 'Brexit') are clearly euro-sterling, because that's the major trading partner. The key balance sheet exposures are dollars — so cable (sterling-dollar) — and the interesting problem with the euro-sterling hedge is that while undoubtedly it would be very damaging for sterling were the vote be to leave, it would also be very damaging to the euro, simply because the political fallout and the uncertainty that it would bring for other countries in the union would create some damage there," he later added.
Last month, HSBC said buying the Swiss franc might be the best hedge against a "Brexit."
"The CHF (Swiss franc) would likely rally on 'Brexit', given the political and European-centric nature of the crisis," HSBC currency strategists, David Bloom, Daragh Maher and Mark McDonald, said in a report.
"However, were 'Brexit' rejected, we would not expect maintenance of the status quo to provoke much CHF weakness. There is little evidence that CHF has priced in much Brexit risk, which means there is little risk premium to disappear," they later added.
Follow CNBC International on Twitter and Facebook.