Investors view rising inflation and low interest rates as a greater threat than Brexit, according to a new survey.
A total of 42% of investors saw the prospect of rising inflation as a major threat, while 42% believed consistently low interest rates were a key concern.
In comparison, just 30% saw Brexit as one of the biggest obstacles to building and maintaining wealth, according to the survey of more than 1,000 UK savers and 500 high net worth individuals.
While some organisations have warned Brexit will have a negative effect on the UK economy and consumer finances, the majority of investors questioned feel well prepared for the UK’s exit from the EU.
In fact, 69% of investors in the survey commissioned by Rathbone Investment Management said they did not consider Brexit a substantial threat to their finances.
However, the spectre of mounting inflation has raised concern for many investors – particularly those who hold a substantial amount of wealth in cash – with inflation rising by 3% in the last month to the highest point in five years.
Just over a quarter (26%) of those surveyed said they had already been negatively affected by the rising rate of inflation, and a further one in five (21%) were concerned it would impact them in the near future.