{"id":153201,"date":"2019-08-09T09:22:44","date_gmt":"2019-08-09T13:22:44","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153201"},"modified":"2019-08-09T08:04:35","modified_gmt":"2019-08-09T12:04:35","slug":"investors-to-move-assets-out-of-uk-as-economy-stumbles-towards-abyss","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/investors-to-move-assets-out-of-uk-as-economy-stumbles-towards-abyss\/","title":{"rendered":"Investors to move assets out of UK as economy \u2018stumbles towards abyss\u2019"},"content":{"rendered":"
August 9, 2019<\/div>
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By George Prior<\/strong><\/p>\n

A growing number of UK and global investors will move their assets overseas as Britain stumbles towards an economic abyss, affirms the boss of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The observation from Nigel Green, founder and chief executive of deVere Group, which has $12bn under advisement, comes as it is revealed that the UK economy shrank in the second quarter \u2013 the first time in seven years.<\/p>\n

Mr Green notes: \u201cSterling has taken another pounding after the UK\u2019s economy was shown to have contracted in the second quarter, adding to the economic woes on top of no-deal Brexit concerns.<\/p>\n

\u201cThe pound has fallen more than 4.5 per cent against the dollar in July and August over fears Boris Johnson\u2019s government is pushing the country towards a no-deal Brexit \u2013which most economists think would be economically damaging.<\/p>\n

\u201cShould the UK leave with no-deal, the pound is likely to remain weak for several years until the country and the EU readjusts.\u201d<\/p>

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He continues: \u201cThere is growing speculation too that there will be a general election in the autumn and this will add to the uncertainty for the pound and Britain\u2019s economy.<\/p>\n

\u201cThe situation will get even more serious should a Jeremy Corbyn-led Labour government win that election.\u00a0 His high tax and low-profit policies and anti-business rhetoric would deliver a hammer blow to the already floundering economy.\u201d<\/p>\n

Mr Green goes on to say: \u201cDepressingly, Britain appears to be stumbling towards an economic abyss.<\/p>\n

\u201cUK and global investors will be becoming increasing nervous of this deteriorating situation.\u00a0 They will, inevitably and quite sensibly be looking to grow and safeguard their wealth by moving assets overseas through various established international financial solutions.<\/p>\n

\u201cThe pace of this trend is likely to increase over the next few months as the geopolitical issues intensify.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior A growing number of UK and global investors will move their assets overseas as Britain stumbles towards an economic abyss, affirms the boss of one of the world\u2019s largest independent financial advisory organizations. The observation from Nigel Green, founder and chief executive of deVere Group, which has $12bn under advisement, comes as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-153201","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=153201"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153201\/revisions"}],"predecessor-version":[{"id":153202,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153201\/revisions\/153202"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=153201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=153201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=153201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}