Pictet & Cie

The Bank of England (BoE) has delivered a much-anticipated 25bp rate hike, tightening its monetary stance for the first time in over 10 years (or 3,773 days to be precise). The Monetary Policy Committee (MPC) 7-2 vote on rates was at the hawkish end of market expectations...

According to Luc Luyet and Frederik Ducrozet, Asset Allocation & Macro Research, Pictet Wealth Management, the sharp drop of the sterling on Friday 7 October at the start of trading in Asia with the currency declining 6% in the course of twenty minutes was the climax of a particularly tough week for the currency.

The British electorate’s decision to leave the European Union in the June referendum has roiled markets worldwide. It has clouded prospects for the UK and world economies, and threatens the future of the European project.

Results from the UK’s referendum on membership of the European Union (EU) indicate that voters have decided the UK should leave the EU. This result is likely to have wide political, economic and financial market repercussions, leading us to alter our economic and market forecasts and, potentially, our asset allocation.

Pictet Asset Management has expanded its Total Return fund range with the launch of PTR-Phoenix, an equity market neutral fund investing in Asia.