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Brexit - Fund Manager reactions post referendum

The world seemed to go into panic mode following the Referendum result, but its too early to say exactly what this means for the UK, its trading partners, investments and pensions. Once the process starts, it will take up to 2 years to complete the process of a full exit. The FTSE100 took an immediate dip on Friday 24 June 2016, but has already been making a recovery just a few days later. It is our thoughts that people should not panic. Investments should be seen as long-term and investors should not make any knee-jerk reactions, but of course watch the markets carefully and make careful investment decisions.

RL360° Chief Executive David Kneeshaw provided comment following the result:

“While a high level of uncertainty is inevitable following Friday’s referendum result, now is the time for calm reflection and, of course, business as usual. It is important to remember that the result does not mean an immediate Brexit and that our regulatory framework remains as is. We will, of course, observe with interest and participate where appropriate as the UK and Isle of Man Governments plan for what happens next. And while market uncertainty will undoubtedly have some effect on funds, it is important to us that our advisers and their clients are secure in the knowledge that our focus remains firmly on not only the future of our company but the long-term future of their investments. As always, we will work hard to ensure the best possible investment outcomes.”


Below are some Fund Manager comments published immediately after the Referendum result was announced.


BlackRock - UK Vote: Out Of Europe

The UK’s momentous decision to leave the EU brings long-lasting political and economic consequences. We expect European leaders to focus on fending off domestic populist movements emboldened by the British exit and on preventing the entire EU edifice from falling apart. This points to a tough negotiating stance toward the UK and less focus on much-needed structural reforms. We expect attitudes on immigration to harden, and see the risk of a protracted standoff feeding uncertainty.




Henderson - Brexit: Investment Impact

Henderson's investment teams have been providing their views in the months leading up to the referendum. They now provide 'Brexit reactions' outlining how they believe the vote to 'leave' will impact their asset classes and portfolios.





HSBC Global Asset Management - UK ‘Leave’ vote triggers economic uncertainty

Given the significant volatility introduced to the market following the ‘Leave’ vote our investment views shall be under review in the coming days as the markets settle and opportunities become clearer. Any revisions will be published in the forthcoming Investment Monthly (IM).




Invesco - EU referendum:Our thoughts as the UK decides to leave

Following the UK’s historic decision to leave the European Union (EU), we share the initial views from across our economic and investment teams as to what this result may now mean for markets and investors.




Investec - EU Referendum: Investec's Views

Simon Brazier, Philip Saunders and Ken Hsia give their views on the EU Referendum result. The views expressed are those of the Portfolio Manager at the time of publication. They may not reflect the views of all the portfolio managers at Investec Asset Management. Any opinions expressed are honestly held but are not guaranteed and should not be relied upon.




J.P.Morgan - Brexit - a shock for markets, or a crisis?

Investors have been seriously wrong-footed by the result of the EU referendum. But the shock of City traders this morning is nothing compared with the stunned response of the people who thought they ran the country. The economic and political questions raised by this vote will not be answered for years, possibly decades. But the immediate questions for investors are how long the "risk-off" mood in markets will continue and how much damage it will do in the process.



June 2016

Please note that these are the views of the authors of the respective Fund Houses BlackRock, Henderson, HSBC, Invesco, Investec, and J.P.Morgan and should not be interpreted as the views of RL360°.

Authors

For BlackRock

BlackRock Investment Institute



For Henderson

James Henderson, Laura Foll, Ben Lofthhouse, Andrew Gillan, Guy Barnard and Mathew Beesley



For HSBC Global Asset Management

Macro & Investment Strategy team



For Invesco

Nick Mustoe,Mark Barnett, Jeff Taylor and John Greenwood



For Investec Asset Management

Simon Brazier, Philip Saunders and Ken Hsia



For J.P.Morgan

Stephanie Flanders



Please note that these are the views of the authors of the respective Fund Houses BlackRock, Henderson, HSBC, Invesco, Investec, and J.P.Morgan and should not be interpreted as the views of RL360°.