No doomsday ahead for markets: Strategist

Global playbook: China & Brexit risks

Global stock markets may have experienced increased volatility over the past year, but that does not mean investors should fear an impending global recession, Adam Schor, Janus Capital Group director of global equity strategies, said Tuesday.

"There are risk factors out there. We think the volatility of Brexit will be one of them," said Schor on CNBC's "Power Lunch." "But when when we talk to our companies, and we look at the data points we are getting from them, we're seeing generally healthy conditions, generally healthy demands, not off the charts, but generally okay. So we're not having as a base case a recession."

Bank of England Governor Mark Carney said on Tuesday a vote by Britain to leave the European Union, widely known as 'Brexit,' could hit the country's $2.9 trillion economy and prompt some banks to move away from London's global financial powerhouse.

Carney said the Bank of England would not assess the long-term implications of the referendum for the economy. But a possible vote for Brexit on June 23 would deliver a short-term hit to growth and sterling, and foreign investment would probably also diminish.

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Despite the potential impact a Brexit could have on global markets, Schor noted it is unlikely the UK will vote to leave the EU.

"We don't think it's going to happen," said Schor. "The run-up to the vote could be creating a lot of volatility, but my suggestion is don't make investments around Brexit. Make investments around these companies that are finding ways to grow and innovate independent of what happens with the Brexit vote."

Currently, volatility and macro-driven markets are setting up ideal conditions for active and growth oriented managers, said Schor. When calm water returns, earnings growth and stock picking will benefit in markets where they are bullish, such as healthcare and technology, he added.

"We want people to still feel positive about equities. We think the markets in the last couple weeks have begun to put some of these macro conditions in proper perspective. And if you offset that with decent valuations, with very attractive valuations in many sectors, and decent conditions with these companies, we think it's a good environment for not only for investing in equities, but for active investing in equities."

— Reuters contributed to this report.