In the aftermath of the Brexit vote and the uncertainties that exist, there is one thing the team at PortfolioMetrix do know for certain and that is it’s crucial not to panic, particularly when it comes to long-term investing.

The process of leaving the EU doesn’t start until the UK invokes article 50 of the Lisbon treaty, which we know from David Cameron’s resignation speech won’t happen before October 2016. Even then, it will take a significant amount of time to negotiate an exit – up to two years at least – and a lot can change over that period.

From an investment perspective, this was an unexpected result but although we didn’t think it was the most likely outcome we also never discounted it as a possibility and so we made sure portfolios were positioned to withstand it.

PortfolioMetrix portfolios are global and extremely diversified. Leading up the vote they have been less weighted towards UK equities overall than many competitor portfolios we see. While foreign equity positions may initially decline in local currency terms, we believe they will hold up much better – they may even perform positively for UK based clients – when converted into the now weaker sterling.

So, while the result of the vote has been unexpected and it will no doubt take time for the dust to settle, our strategy is to work hard to keep on top of the challenges to help clients achieve their long term savings goals.