Wealthy UK investors see positive outcome from Brexit - UBS

Wealthy UK investors grew more optimistic on the economic impact that Brexit might have, the latest survey from UBS shows.

Having set aside concerns that uncertainty linked to the country's exit from the European Union will negatively impact on the country’s economy, 41% of wealthy investors now believe that Brexit will actually be somewhat positive for the UK, although another 35% still think that Brexit will have a negative impact.

The proportion of investors who said the domestic political environment was their biggest worry fell from 55% at the end of 2018 to 43% in the first quarter of 2019, revealing a significant rise in financial confidence.

And it is not only investors jumping on the positivity bandwagon, around 44% of business owners said that Brexit would be good for their companies with 28% predicting no impact at all.

“Between multiple meaningful votes in Parliament and pivotal European Council summits, it has been a challenging quarter for our clients, who are looking to minimise the impact of domestic political and market factors on their investments and businesses,” said Mark Goddard at UBS Global Wealth Management.

“Despite this, this survey shows that UK investors and business owners have a much more positive mindset than towards the end of 2018. Investors have managed to set aside concerns over prolonged uncertainty when assessing their financial objectives and economic outlook.”