JPM sees modest Brexit impact on EMs
The macro drivers for emerging market equities are largely unaffected by Brexit according to JP Morgan, and the firm maintains its overweight.
The macro drivers for emerging market equities are largely unaffected by Brexit according to JP Morgan, and the firm maintains its overweight.
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Chin-up, dear investor. Brexit has not necessarily been the disaster for the FTSE as was predicted, and could actually be a great opportunity for UK-facing active managers.
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The British pound and FTSE 100 both bounced significantly after record falls during frantic trading in the wake of the United Kingdom’s decision to exit the European Union.
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Old Mutual Global Investors CEO Richard Buxton has spoken of the “bleakest” prospects for domestically focused UK companies, having recently backed recovery plays in the likes of Tesco, Ladbrokes and Debenhams.
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Neil Woodford has wasted no time in offering investors some reassurance over the prospects for UK equities in the wake of the Brexit vote.
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Markets were not as sure about the referendum result as the bookies on Thursday, with equities and sterling both slipping back during the afternoon following big climbs in the morning.
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The FTSE 100 has begun the day in very volatile fashion as the United Kingdom votes on whether to remain in the European Union or leave.
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It is the range of European national elections set to take place in 2017 that could potentially give investors the real headaches.
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European investors hoarded cash in May. As Brexit-induced uncertainty dominated markets, they poured a net €14bn into USD money market funds, according to Lipper fund flows data.
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Opinions from Vontobel, Manulife AM, Pictet AM and JP Morgan AM say a Brexit is unlikely. But just in case…they join in the flood of forecasts on what happens after a leave vote.
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Adrian Gosden, co-manager of the Artemis Income Fund, will leave the firm at the end of the month after 13 years.
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Everything is pointing towards a wild day in financial markets this Friday with asset prices shifting dramatically whatever the outcome of the referendum.
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