The UK formally left the EU on 31 January 2020, and is now in the 11-month ‘transition period’ until 31 December 2020. During this period, the UK must secure a new trade agreement and other aspects of the UK-EU relationship.
Although the UK is no longer an EU member, the trading relationship remains the same during the transition period, and it will continue to follow the EU's rules. As such, it’s very much business as usual for us and our customers.
We will continue to closely monitor developments throughout the trade negotiations –as we have done over the last few years - to ensure we are prepared for all potential outcomes.
You may have questions about what this means for you as an investor with Old Mutual International, and there is a Q&A below. However here are the main points we want to emphasise:
- Most importantly, we’re pleased to say that Brexit - whatever the final outcome - will have minimal impact on our existing operations, and we will be able to continue to service your policies and investments.
- It’s possible that there may be some uncertainty in the economy and markets, but it’s important to remember that all investments can go up and down in value over time. The basic principles of long-term investing remain the same – short-term falls do not necessarily impact on long-term goals. If you do have any concerns regarding the ongoing suitability of your investments, your professional financial adviser is best placed to discuss these with you.
- It may take time for all implications to become clear and some things may change. Our focus is on supporting you and your adviser. We will keep you informed of any changes here, and contact you directly if required.
Staying safe from financial scams
Even though you may not be directly affected by EU withdrawal or a no-deal scenario, during this time of heightened political uncertainty the risk of scams or other frauds is very real. Read our pages about staying safe from financial scams.