Web Alert: UK referendum on EU membership

Last Thursday's UK referendum resulted in a majority vote in favour of the UK leaving the EU.

There remains considerable uncertainty regarding both the nature and length of the exit negotiations and the UK's relationship with the EU following exit. While a clearer picture will emerge over the next two years, The Standard Club has taken effective measures to manage the risks and opportunities arising from the vote.

Ahead of the referendum, the club's investment team took the view that the outcome was too close to call, as well as the view that the negative consequences of a 'Brexit' vote exceeded the positive consequences of a 'Remain' vote. As a result, the investment portfolio was positioned to protect the value of investments in the event of a vote to leave the EU.

Looking ahead, the club will continue to put in place appropriate contingency measures that address the potential regulatory and legal implications of the vote. Further updates will be provided to members as required.