Like the rest of the financial world, MJB were a little surprised by the ‘Brexit’ result, but not surprised by the initial reaction of the Stock Market and currency changes. As we write this the Stock Market has recovered somewhat from the early falls of over 8% to be 4.7% down with the FTSE 100 just over the 6,000 level. This is higher than it was in September last year and February this year. Similarly, with the pound against the dollar an initial slip of around 11% has since adjusted to 6.6%. Our advice to those with investment portfolios is ‘not to worry’ – most of you have diversified portfolios that should cushion you from the worst of the volatility and long term prospects may well be unaffected.
Please read the article below by Neil Woodford: