You are here: Home - Investing - Experienced Investor - News -

‘Keep calm and carry on’ says OMGI’s Buxton as Brexit campaign hots up

Written by: Adam Lewis
Old Mutual Global Investors’ (OMGI) head of UK equities Richard Buxton says putting any investments on hold in the run to the upcoming EU referendum risks fuelling a lack of confidence in the UK market.

Buxton, who also manages the £2.3bn Old Mutual UK Alpha fund, says that any jitters in the UK stock market ahead of the referendum vote on 23 June are “at complete loggerheads with what UK company bosses are telling us”.

“Consumer sluggishness aside, the key to propelling UK growth forward is corporate sector confidence – reflected through investment and innovation,” says Buxton, who made the high profile move to OMGI from Schroders in 2013.

“As a country, our ability to innovate pervades the pharmaceutical, digital engineering, electronics and automotive industries. Whilst the labour market is tighter but the cost of finance pretty low, there is a highly favourable environment for British industry to invest and enhance productivity.”

Indeed Buxton says the benefits of cheap financing have manifested themselves in the rush of companies that have come to the market in recent times. He notes that since the start of 2013, 150 companies have listed, “with a pipeline of promising companies seeking a listing once the uncertainty of June’s vote is out of the way”.

“So while the Brexit campaign hots up, and both sides release increasing numbers of hurried statistics to support their case, let’s keep our focus on life beyond the referendum,” he argues. “Businesses up and down the country need to ‘keep calm and carry on’. Putting investment on hold, due to uncertainty, risks fuelling a lack of confidence.”

And if anyone is in any doubt about which way the British public will vote on 23 June, Buxton says to take a look at the bookies odds, not the polls. With this in mind, he says despite all the campaigning, the odds to remain in the EU have barely changed: 2-1 on we stay in Europe.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • @YourMoneyUK Is this actually (very sadly) a bad news story @emmalunn? If the number of people qualifying for HTS i…
  • RT @BoonBrokers: “Obviously, these practices are totally unacceptable and we would hope that most estate agents would be as horrified as us…
  • “Obviously, these practices are totally unacceptable and we would hope that most estate agents would be as horrifie…

Read previous post:
Millions left unclaimed in dormant accounts: how to trace your money

There is currently £51m in unclaimed Premium Bond prizes, up to £1bn in dormant bank accounts and £400m in unclaimed...