An interesting take on the Brexit polls from Singapore-based fund manager, Stephen Fisher of First Degree Asset Management. In his blog, Mr Fisher looks at the pre-vote polling on the UK’s plebiscite and why in the past, pre-vote polls have been ‘way off the mark’ when it comes to the actual result.
Financial markets around the globe have been fixated on the Brexit poll and the potential effects of Britain leaving the European Union. Volatility has increased markedly as investors position themselves ahead of the vote. On one side of the argument you have the ‘remain’ vote, characterised by some as ‘Project Fear’ , scaring voters as to the great cost to the nation if the UK votes to leave and supported by Prime Minister David Cameron. On the other side is the leave vote, characterised by Britain’s lack of sovereignty over its laws and borders and the unhealthy dominance of British life by the ‘superstate’ EU. The major supporter is Boris Johnson, the recent former mayor of London.
The UK votes on Brexit on 23 June 2016 with the polls closing at 7:00am on Friday 24 June (AEST). New Zealand and Australia will be the first markets to react to the result.
A link to Stephen Fisher’s blog can be found here.