Well, it has happened! The bookmakers have been proved wrong again (as those from Leicester have recent experience of).
First, the bad news; Market reaction globally has been worse than we feared in the event of a Brexit. It is not just the UK suffering a sharp drop in values.
The good news? There isn’t much in the short-term, but it falls into the camp of “not being as bad as we thought it would be”.
• All clients have diversified portfolios – this includes elements (bonds and property) that are largely unaffected.
• The main UK market hasn’t fallen as far as we thought it might. By 9am this morning the FTSE100 has bounced back from a near -8.0% to a -5.0% fall.
• Overseas investments are cushioned by the fact that the weakness in Sterling has boosted investment values here.
Yes, it is a set-back, but one the markets will recover from over time.
Please call us if you have concerns.
