Once again the political scene has delivered an unexpected result.
What are the next steps? We will let the dust settle and quietly assess what has changed, if anything, for our current holdings. Experience tends to tell us that allowing for a short regroup before considering any significant changes is sound practice.
Our investment strategy is currently well diversified and we hold a reasonable proportion of assets in overseas markets within our portfolios, which is beneficial at this point. We have not seen any negative changes to our holdings in Europe, Asia, the USA, or to our fixed interest holdings. Ignoring market moves, those assets should increase in value because of the weakening of Sterling.
The media focus will now be on Theresa May’s position following the result and of course the UK’s standing with Europe. Our thinking is that the BREXIT agenda will change, and negotiations will be harder, but ultimately there is now no clear mandate in the UK. This is likely to lead to some short term volatility, but the global economic backdrop remains supportive of our portfolios and we continue to be focussed on the medium to long term outlook.
If you have any queries or concerns, please do not hesitate to contact us.