Originally published: Portfolio Advisor, 29 September 2024
Nearly half of wealth managers report 25% to 50% of client investments this year were into UK stocks
Wealth managers’ sentiment towards the UK shows an increase in optimism as 85% believe the FTSE 100 will close higher this year than last, according to GraniteShares’ survey of 100 wealth managers.
While the FTSE 100 returned just 3.8% in 2023, the market is currently 7% above where it started the year, and wealth managers expect the trend to continue. Across the past five years, the FTSE 100 has teetered up 11.6%, while its US counterpart, the S&P 500, has shot up 93.6%.
GraniteShares conducted an online survey in August, via Pureprofile, of 100 wealth managers and IFAs to gather its data for the report.
