Unlucky for some?
UK plc suffers 13% Brexit setback
On the day the UK leaves the EU, research undertaken by Capital Asset Management reveals that investor confidence in UK plc has suffered a 13% setback relative to the EU, since the referendum on 23rd June 2016.
Capital Asset Management, an award-winning wealth manager made this assessment by taking the total value of the FTSE All Share index as a proxy for confidence in UK plc and the equivalent index of EU company shares as a proxy for confidence in the EU. Over the time period from referendum to exit, the value of the FTSE All Share index has risen 35.52% but the equivalent basket of EU shares has risen by 48.36%, representing a 13% difference.
Alan Smith, CEO, Capital Asset Management, said: “If you had invested £10,000 in the UK the day after the referendum, it would be worth £13,552 (excluding costs and tax) today but it would be worth £14,836 if it had been invested in the EU, which is £1,284 or almost 13% more.”
He continued: “As past performance is no guide to future performance, we would not advise individuals to overweight their pensions or investments in EU stocks; the best strategy is to be globally diversified, across the UK, EU, US and Asia.”