Investments  

Going for gold ahead of EU referendum

Equal numbers of advisers thought the UK stockmarket and sterling would be winners in the event of a vote to remain, while the same number of people (29 per cent) believed it is time to take risk off the table and go for gold as a hedge in the event of a vote to leave.

Only 13 per cent expected a short-term uptick in house prices as a direct result of the outcome of the vote.

Which way will the polls go?

There are various polls suggesting a swing to remain or a swing to leave. However, research carried out in May by NMG, on behalf of trade body the Association of Professional Financial Advisers (Apfa), found there was a slight majority of support for the remain campaign.

Some 40 per cent said they would vote to remain in the EU, with 24 per cent saying they would vote for Brexit and a further 26 per cent undecided.

Chris Hannant, director general of Apfa, said: “Advisers deal with the outcomes and impact of policy and regulatory developments at an EU level daily on behalf of their clients.

“This is the case both in terms of specific regulations, such as Mifid II or PRIIPs, but also the broader consequences for financial markets.

“Regardless of the referendum outcome, advisers will need to ensure they have appropriate strategies in place which ensure clients (in the UK and the EU) are protected by the effects of the vote on markets in both the short- and long-term.”

simoney.kyriakou@ft.com

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