Wealth Club has released the results of its latest survey, and results show that the majority of high net worth investors do not expect the UK general election, which will be held on 8 June, to impact their portfolios.

Although a bout of political turbulence looms on the horizon as the UK edges toward a snap general election, the majority of high net worth individuals are confident about their financial situation for the year ahead, new data shows. 

Two-thirds, or 62 per cent, of HNWIs remain confident about their overall wealth, and more than half (53 per cent) expect to see similar returns over the next six months, according to a survey conducted by Wealth Club, an investment service for high net worth investors. 

The firm surveyed 319 of its clients and HNWIs earlier this month. 

Even though the survey's findings showcase higher-than-expected optimism levels amongst HNWIs, many acknolwege that challenges lie ahead. 

Just 8 per cent of respondents think they will see returns increase over the next six months, and 34 per cent expect their portfolio performance to suffer. 

The survey asked respondents to cite the “three biggest challenges” to their wealth in 2017.

More than half, or 52 per cent, are concerned about a slowdown in the global economy; Brexit is at the forefront of concern for 51 per cent; and 39 per cent say changes to tax is keeping them awake at night. 

Just under a third, or 29 per cent, list 8 June's general election in their top-three concerns. 

Still, HNWIs are showing concern about which party will head the UK, and the various tax hikes that could entail under new leadership. 

Thinking more specifically about changes to government policy, nearly half, or 46 per cent, of HNWIs fear an increase to income tax; 45 per cent are concerned over a rise in inheritance tax; and 40 per cent are worried about changes to capital gains tax. 

A further 29 per cent are concerned about alterations to pensions. 

“It is encouraging that HNWIs are confident despite ongoing political uncertainty. However there is much for this group to wrestle with over the coming months,” said Alex Davies, chief executive and founder of Wealth Club. “This group is increasingly worried about the knock-on effects of Brexit negotiations – this being the main issue on our clients minds.”