The race to be the next UK Prime Minister demands investors take action to mitigate risks to their wealth, affirms the CEO of one of the world’s largest independent financial advisory organisations.
The comments from Nigel Green, founder and chief executive of deVere Group, which has $12bn under advisement, come as it is reported by The Times reports that Theresa May will quit her ost as early as Friday.
Mr Green notes: “Nigel Farage’s Brexit Party is expected to do well in the European elections. This can be expected to send a clear message to the Conservatives, and it will likely mean that their next leader – and Britain’s next PM – will be a Brexiter such as Johnson or Raab.
“Should a leadership contest outcome produce a hard-line Brexiter who could promote a sudden exit from the EU, markets will react accordingly with UK assets and the pound being impacted.”
He continues: “With the ongoing uncertainty, UK and international investors in UK assets should mitigate risks to their wealth by ensuring their portfolios are properly diversified geographically and by asset class and sector.
“Exposure to equities and bonds, from as many different issuers as possible will help safeguard their savings from this uncertainty and take advantage of the opportunities that will inevitably be presented.”
Earlier this week, the deVere CEO noted: “European elections? It’s what comes next that matters.
“Whether the Pound will prolong its longest run of losses against the Euro since the single currency’s introduction will depend on who imminently takes over from Prime Minister Theresa May.
Nigel Green concludes: “The battle for the Conservative leadership and the keys to Number 10 should serve as a wake-up call for investors to review their portfolios to ensure they will remain on track to reach their long-term financial goals – regardless of who enters Downing Street.”
