Polled in London at a European equity event organised by Expert Investor‘s sister publication Portfolio Adviser, a group of 22 high-profile wealth managers were asked how they would vote in the upcoming Brexit referendum, along with a series of questions relating to asset allocation in light of the referendum.
When asked the question “How are you likely to vote on June 23rd?”, almost three quarters of wealth managers in the room said they planned to vote for Britain to remain in the EU, while the rest were in favour of Brexit.
The majority of wealth managers plan to reinforce their defensive positions ahead of the Brexit vote, with absolute return funds (22%) and cash (17%) being the most popular options. Only 39% said they do not intend to raise their allocations to defensive assets.
At a broader level, 78% of the surveyed wealth managers said they would keep their allocation to European equities constant within the next 12 months.