Wealth manager Brexit reaction: Long-term value will emerge from 'collateral damage'

Britain votes to leave the European Union

Fund pickers have reacted to "a point of crisis" as the UK votes to leave the European Union, but many believe the global macroeconomic landscape will emerge relatively unscathed after an initial phase of "collateral damage" passes.

In yesterday's referendum, the 'leave' campaign won by 52% of the votes against 48% voting to remain in the EU. The decision wrong-footed stockmarkets around the world, with the FTSE 100 slumping by up to 8.3%, while Prime Minister David Cameron handed in his resignation. Despite a great deal of market movement on the day of the result, fund pickers believe Brexit is unlikely to affect global economic issues over the long term and could potentially throw up attractive investment opportunities. Fund manager Brexit reaction: Unstable conditions could last up to five years but not a '...