Brace for volatility, say fund managers
This is not a 'Lehman moment', says Deutsche Bank executive. But fund managers are alert to the prospect of contagion.
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Genevieve Cua
THE UK's vote in favour of an exit from the European Union ("Brexit") dealt a shock to asset markets on Friday, yanking risk appetite firmly into risk-off mode.
But investors should not panic, even as they should brace for volatility. This is not a "Lehman moment", as Christian Nolting, global chief investment officer of Deutsche Bank Wealth Management, said in a note to investors on Friday.
For now, the biggest fallout is likely to be seen in UK assets, but fund managers are alert to the prospect of contagion into mainland Europe and have moved to reduce their eurozone equity and bond exposures.
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