24 June 2016 (Friday) was frightening for global investors. That was when news broke that United Kingdom voted to leave the European Union (Brexit).
I am invested in two European-related unit trusts. The immediate impact of Brexit was to see my investments declining 10.5% and 8.9% of the two funds respectively.
|Unit Trust||Change (%)|
|BlackRock European Equity Income||-10.5%|
|JP Morgan Europe Dynamic Fund A(ACC)||-8.9%|
Surprisingly, Singapore equities held up quite well. My investments in Singapore equities declined only 1.3% since Friday.
I was lucky in that I did not invest in Sterling Pound and in Japanese equities; both were badly affected by Brexit. My exposure in the European investments was fairly small in comparison with my entire portfolio.
Now that some sense had come back to the financial markets, it was a relief that the fear of much bigger downside risks was abated.
I am not certain how this will end. It is certainly not 2008 moment (Global Financial Crisis). I am still keeping significant amount in cash and its equivalent.
Copyright © 2016, limkimtong for Living Investment
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