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General Election statement

General Election statement

Following the result of the General Election overnight and the hung parliament, we will be monitoring the equity and currency markets closely over the coming days.

Initial market reaction saw sterling drop. This led to a rise in the FTSE100, which is made up of many companies whose overseas earnings are helped by a weak pound.

Meanwhile, the FTSE 250, which is made up more of UK-based equities, has fallen less than 1%, although individual companies that have government contracts or are in the construction industry, may see larger falls in the short-term.
 
We want to reassure members and customers we are in a strong position to weather any volatility in the investment markets and, as a mutual, with no shareholders to consider, we can focus on making the right long-term decisions.
 
Because of our long-term approach to investing we are also able to use market turbulence to our advantage, buying equities that are temporarily out of favour to further strengthen our financial position.

While our investment team will not take unnecessary risks during this period of uncertainty, they will still continue to look for good opportunities to help build the future of the Society and enable us to generate healthy payouts for our customers.

The investment and pensions products we offer are designed to be medium to long-term plans. Market fluctuations may have some short-term impact on the value of policies, but we firmly believe that over the longer term they are designed to withstand the ups and downs of the markets.

We have a nationwide team of specialist financial consultants who can help customers with any questions they might have.

Robert Vaudry
Investments Managing Director

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'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

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