Expect the unexpected Last month the British public went to the polls to vote on staying in the Eurozone (Bremain) or leaving (Brexit). Brexit won by a vote of 51.9% to 48.1%. This shocked markets, with share values declining, the pound dropping to an historically low level, and bond market prices rising. While the result was surprising we feel that when you break down the results, the underlying issues are more interesting. The referendum had a turnout of 72% of voters, which was 6% more than the recent general election.
Private Wealth Advisers June 2016 update Contents: • Brexit – how will this impact my portfolio? • Personnel changes at PWA Brexit – How will this impact my portfolio? As we have discussed in the past, Private Wealth Adviser’s primary goal is capital preservation. In this regard we have been anticipating increased volatility in the share and bond markets for some time and have steadily been reducing your portfolio’s exposure to shares, and increasing the levels of cash over the past 1-2 years. We have also been recommending fund managers that