Belgian fund buyers believe Brexit will have a long-term negative impact on equity or bond prices, or even on both. Fund managers speaking at the Expert Investor Belgium forum are hardly more optimistic.
Columbia Threadneedle Investments is looking to beef up its presence in Luxembourg prior to the UK leaving the European Union.
GAM, the acquisitive Swiss asset manager, has made another move. It announced today it bought the UK-based multi-strategy systematic manager Cantab Capital Partners for $217m (€195m).
A number of commentators have sought to reassure investors that the events of last week were not ‘a Lehman moment’.
The three largest multi-strategy funds for sale in Europe have fared better than most other absolute return funds since the UK’s shock vote to leave the EU. However, the Standard Life GARS fund continues to underperform its peers on a longer-term basis.
The day after Roy Hodgson showed David Cameron a thing or two about how to resign rapidly when things have gone pear-shaped, the markets rowed back a little on their own quick reaction to an unexpected defeat.
Hogan Lovells says the solution to the post-Brexit passporting problem is not as simple as setting up a brass plaque company inside the EU.
European investors are sitting on large cash piles, and are waiting for volatility to ease a bit before hunting for opportunities.
Last week Expert Investor suggested that the bookmakers’ odds strongly favouring a British vote to stay in the EU were not as reliable as many fund managers thought. And right we were…
In a joint statement on Friday, the EU leadership urged the UK to start departure procedures immediately as “any delay would unnecessarily prolong uncertainty”.
Markets were stunned into action on Friday morning after the UK voted narrowly to leave the European Union. Sterling slumped to its lowest level versus the dollar since 1985, safe haven assets jumped and the Nikkei fell almost 8%, while the FTSE opened 6.7% lower.
Not only wholesale investors have reduced risk in the run-up to today’s Brexit referendum. Institutional investors, who are supposed to take more long-term views, have also moved to protect their portfolios.
