Britons Increase Investments with Wealth Managers Amid Brexit Uncertainty, Reports Reuters

Title: Increased Savings and Investments Among Britons Post-Brexit

By Simon Jessop and Maiya Keidan

LONDON – Following the UK’s decision to leave the European Union, Britons are stepping up their savings and investments through wealth management firms in anticipation of an uncertain future.

Wealth managers such as St James’s Place, Rathbone Brothers, Brewin Dolphin, and Jupiter Fund Management, which primarily serve British clients, reported this week that they have experienced net inflows into their investment and savings products.

The uncertainty stemming from the recent "Brexit" vote is amplifying investor concerns about the global economy, especially with a slowdown in growth in China, coupled with significant easing of monetary policy by central banks around the world.

St James’s Place noted it had achieved a record for net inflows in the second quarter, with a 25% increase compared to the previous year, positioning the firm to meet its growth targets. "Our goal is to expand the business by 15 to 20 percent annually, and since June 24, our operations have been consistent with those medium-term objectives," stated Bellamy during a call with reporters following the company’s impressive results.

Brewin Dolphin indicated a 2.1% rise in total funds under management during its third quarter, reaching £33.5 billion, with an additional £100 million added. Rathbone experienced a 4.8% increase in total funds during the first half of the year, amounting to £30.6 billion, aided by inflows of £259 million.

Jupiter Fund Management also reported a 4% increase in its funds under management in the first half, boosted by £400 million in inflows, particularly in its Strategic Bond Fund and UK Absolute Return Strategy, and positive flows have continued since the Brexit vote.

This trend stands in contrast to emerging market-focussed firms like Ashmore and Aberdeen Asset Management, which have recently announced net outflows.

The market reacted positively to this influx of investor capital on Wednesday, with St James’s Place shares rising by 4%, Brewin Dolphin by 6%, and other firms gaining more than 2%.

"People still have the same investment and savings objectives; they are looking to save for retirement and minimize taxes on their investments, all of which is beneficial for continued investment," commented Laith Khalaf, senior analyst at an investment advisory firm set to report in September.