The monthly poll suggests investors are feeling less inclined to shelter in “safe havens”.

Investor confidence in the UK has bounced back following last month’s fall in the wake of the historic Brexit vote, according to the Lloyds Bank Investor Sentiment Index.

All asset classes except two – so-called “safe havens” gold and cash – have seen a rise in investor sentiment since July. Consequently, investor sentiment is at its highest level this year following a climb of 8.13 percentage points from last month, according to the survey of 4214 adults in the UK.

Gold remains the preferred asset class for most investors at 41.54 per cent. Meanwhile, UK equities and property recorded the biggest jumps in sentiment month-on-month, at 23.98 and 13.02 percentage points respectively. 

The pick-up follows a notable fall in confidence in July when the result of the European Union referendum triggered several investment managers, including Aberdeen Asset Management, Standard Life Investments, Aviva Investors, M&G and Columbia Threadneedle, to suspend trading of their large commercial property funds amid liquidity concerns. 

Sentiment towards UK government and corporate bonds also improved despite remaining in negative territory. 

Attitudes towards emerging market equities were positive for the fourth month in a row amid higher Chinese capital flows and more positive US data. Sentiment towards Japanese equities turned positive for the first time since June 2015.

“The fact that gold and cash are viewed slightly less favourably reflects this greater confidence in risk assets. It is still early in the process, but as the economic data starts to come through, the post-referendum outlook will become clearer for investors,” said Markus Stadlmann, chief investment officer at Lloyds Private Banking.

“If we see clear evidence of real salary growth, this should be positive for UK households and would benefit the economy, but if domestic spending falls it will have an impact on specific companies and sectors. At present, UK equities appear to be proving resilient, and generally we are beginning to see more positive news emerge globally.” 

Actual performance of the asset classes over the past month has largely been positive, with UK and eurozone equities the strongest performers. Only commodities experienced a month-on-month decline in performance, falling 11.1 per cent, despite a slight increase in sentiment. Over the past 12 months, in spite of the sell-off following the referendum result, UK government and corporate bonds have seen the biggest improvement in performance with increases of 13.3 per cent and 8.1 per cent respectively. Only gold performed better at 23.3 per cent.