In a joint statement on Friday, the EU leadership urged the UK to start departure procedures immediately as “any delay would unnecessarily prolong uncertainty”.
Worries about the consequences of Brexit have prompted many fund buyers to increase their allocation to cash and hedge their long positions. However, some put some risk back on at the end of last week as polls swinged back towards ‘Remain’.
Everything is pointing towards a wild day in financial markets this Friday with asset prices shifting dramatically whatever the outcome of the referendum.
Betting odds have emerged as a coveted predictor of the outcome of the UK’s EU referendum. But are they actually as reliable as some fund managers suggest? Nikko AM has its doubts.
UK equities are the most vulnerable asset class in the immediate aftermath of a Brexit, a stress test conducted by the risk modelling provider Axioma showed.
Further asset management consolidation is on the horizon but the line between predator and prey is increasingly blurred Numis said in a note on Friday.
Financial markets have lacked direction in recent months, with the main equity indices all very close to where they were at the start of the year. Macroeconomic data are not strong enough to reinvigorate the bull market, yet not sufficiently weak to stoke fears of recession.
The UK is more attractive to invest in if it remains in the EU, according to Commonwealth business leaders.
The problem of managers “dressing up” track records of their funds has been
getting worse, not better. This is the conclusion of asset management consultancy Cerulli after talking to a bunch of fund consultants in Europe.
A vote to leave the European Union would most likely result in a material slowing of growth and a notable rise in inflation, the Bank of England said on Thursday.