Brexit: The Impact on Family Office Investment Portfolios

Britons voted to exit the European Union on June 23, marking the first time any country has left since its formation. The political consequences for Britain’s Prime Minister were swift, and people around the globe reacted with shock and confusion. The economic and investment impact of this decision led to a rising U.S. dollar and falling GDP growth estimates, which will put downward pressure on S&P revenue growth in an environment where sales, margins and corporate profits are already challenged. As a result, it is prudent to make adjustments to earnings estimate and assets most at risk for 2016, and introduce a preliminary estimate for 2017.