The UK ‘leave’ vote certainly wasn’t expected by our office, and the markets initially had a bumpy few days. However, on the back of three very strong sessions in overnight US equities trading, the markets finished the FY strongly, having somewhat shrugged off the impacts of the UK situation for the time being at least – particularly given there is a lot that would need to be ‘worked out & negotiated’ over the next 2 to 3 years.
There has been a lot of media interest and financial reporting around this event, without too much light being shed on the impacts of what is a new unknown/untested scenario.
Hamish Douglas, the CEO, Chief Investment Officer and lead manager of Magellan Investments, has provided the following 15 minute video which, to my mind, provides one of the best summaries and insights so far since last Friday’s vote.
If you are interested in gaining a greater understanding of how the UK situation may impact the world economically, and hence your investments, then I would highly recommend you watch the video.