RLAM comments on UK vote for Brexit
24 June 2016
Commenting on the UK’s decision to leave the EU, Piers Hillier, Chief Investment Officer at Royal London Asset Management, said:
‘On the back of this morning’s result we expect the UK will fall into a recession. Unfortunately I see unstable market conditions lasting for between three and five years whilst new trade agreements are drawn up.’
‘It is our view that the UK Government will be left with no choice but to stimulate the economy through fiscal and monetary means, flooding the system with liquidity if necessary.’
‘As an investment house, our portfolios are constructed in such a way that they provide resilience across a whole range of possible economic outcomes. We will not be making any knee jerk changes to our portfolios until the direction of travel becomes much clearer. We have always invested for the long-term and, as such, believe over the long-term total returns are likely to ride out the short-term volatility we will see.’
‘For those investors and savers who have a shorter-term investment horizon, we highly recommend they consult a regulated financial adviser before making any changes to their investments or savings.’
RLAM will also be providing additional insight and thoughts on the referendum result throughout the day. To ensure you receive all our latest news and views please follow us at @RLAM_UK or visit our news page at the following link.
For further information please contact:
020 7506 6791
0207 506 6620
About Royal London Asset Management (RLAM):
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages over £87.9 billion of assets and employs 75 investment professionals. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
About Royal London:
Royal London is the largest mutual life, pensions and investment company in the UK, with Group funds under management of £87.9 billion. Group businesses provide around 9.1 million policies and employ 3,051 people. (Figures quoted are as at 31 March 2016).