Sterling transfer options

[williammor]

As beneficiary of a large sterling transfer (net of CAT liability) in the coming month. I invite advice of what to do with same to maximise return in short to medium term. Irish banks consulted to date (including wealth management dept reps) seem to be dismissive with my interest in a sterling holding account for all or part of the monies, and their preferences seem to me to be for immediate conversion and deposit with them and/or investment in euro funds managed by them. Any advice appreciated.

 

[williammor]

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[capall]

If you think sterling is going to strengthen then keep it in sterling for a while.
If you think it will weaken further don't

If you have no views on the matter and you ultimately want the money in euro then change it over now.

As for the best return ,put it on deposit at the best rate you can get.
Everyother option is risky at the moment as now one knows how the markets are going to go in the short term

If you have no appetite for risk ,convert now and put on deposit

 

[williammor]

Hi Capall

Thanks for the views. I concur with them. I am thinking of keeping on deposit in sterling as I think the GB£ will recover 5-10% over the next year. I know this is not a view shared by the majority. My appetite for risk is high in this circumstance. Thanks again for response. My bank have telephoned me today out of hours to say they will accommodate my request. Cheers. Williammor