Lazard AM's Custis rotates out of UK consumer-facing stocks as Brexit concerns intensify

Buying stocks with overseas exposure

Mike Sheen
clock • 2 min read

Alan Custis, head of UK equities at Lazard Asset Management, has been selling out of stocks exposed to the UK economy on concerns it will come under pressure from "suffering" consumer confidence as the Brexit deadline draws nearer.

Custis has been selling domestic-facing financials on his £154m UK Omega fund, while rotating into cyclical stocks with more global exposure.   "We have been increasingly concerned about the UK economy," Custis said. "There is a lot of data out there that indicates consumer confidence is suffering. "As we roll into this year and the true challenges of negotiating our divorce from the EU become apparent to people, the consumer is starting to become concerned." Consumer confidence in the UK fell to its lowest level since the EU referendum in June 2017, declining to a reading of -10 a...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Hargreaves Lansdown's Derren Nathan: Prospects for British business after Starmer's first year
UK

Hargreaves Lansdown's Derren Nathan: Prospects for British business after Starmer's first year

As FTSE 100 hits 9,000

Derren Nathan
clock 22 July 2025 • 3 min read
Kepler Partners' Jean-Baptiste Andrieux: UK-EU summit could cement UK's promising investment outlook
UK

Kepler Partners' Jean-Baptiste Andrieux: UK-EU summit could cement UK's promising investment outlook

'Willingness to improve relations'

Jean-Baptiste Andrieux
clock 19 May 2025 • 4 min read
Square Mile's Scott Spencer: It is time to take another look at the UK
UK

Square Mile's Scott Spencer: It is time to take another look at the UK

Pro-growth agenda

Scott Spencer
clock 09 May 2025 • 4 min read
Trustpilot
Loading page