The referendum result is now clear and the United Kingdom has voted to leave the European Union.
We are responding accordingly and focusing on continuing to deliver the best possible service to our institutional clients. This result does not affect our operational capabilities and we are continuously monitoring all of our funds to mitigate any adverse impact.
The long-term outcomes of the result are unknown but immediate change may be limited. The process of withdrawal will be triggered by notification of intention to exit under Article 50 of the Lisbon Treaty and negotiations on the UK’s new status and on trade agreements are expected to take at least two years after that. At present all current existing EU laws and regulations continue to apply as normal.
We expect volatility in financial markets to continue in the short term in response to the uncertainty around political and economic developments.
However, this outcome does not change our investment process or philosophy. We take a long-term view of investment and will continue to rigorously assess investment opportunities that arise as a result.
We are well prepared to respond to changes that may take place in the political, economic and financial landscape over the months and years ahead and will continue to invest for the long-term benefit of our clients.