UK Managers Frustrated by Brexit Consultations

July, 2017

More than three quarters (77%) of UK fund managers believe that the UK Government should have consulted the asset management industry more before commencing Brexit negotiations, according to a new report from MJ Hudson, the independent asset management consultancy.

The report, based on a survey of more than 300 fund managers and investors in the UK, Europe and the rest of the world, also revealed that 80% of UK fund managers do not believe the UK negotiation team has sufficient understanding of asset management in order to deliver a deal that works well for the UK industry; 63% of global fund investors currently investing in the UK agreed.

The UK asset management industry is the second largest in the world, holding more than 36% of European assets, more than France, Germany and Switzerland combined says an EFAMA study. The Investment Association calculates that UK fund managers run approximately £5.7 trillion (at year-end 2015).