That's about GBP 9 billion which does come back in terms of benefits
Posted on 09/02/2019 5:37:26 AM PDT by Cronos
More than $4bn has been pulled from UK equity funds since Theresa May announced her decision to step down as Britain’s prime minister as fears mount that the UK is heading for a no-deal Brexit under her successor, Boris Johnson.
Investors have withdrawn $4.2bn from UK equity funds since late May, according to EPFR, a data provider. Outflows since the Brexit referendum in 2016 have climbed to $29.7bn.
Luke Ellis, chief executive of Man Group, the UK-listed hedge fund manager, said investors had put the UK into the “too hard to think about basket”.
Neil Dwane, global strategist at Allianz Global Investors, said the UK stock market was “unloved, under-owned and cheap” and Mr Johnson’s positive rhetoric would fail to shift investors’ cautious stance.
“Boris must first resolve Brexit. It will always get in the way until he does,” said Mr Dwane.
Portfolio managers running 250 global equity funds with $450bn in assets have also reduced their UK exposure, with the average holding sinking to 7.9 per cent, according to Copley Fund Research.
This is below the trough reached immediately after the 2016 referendum and down from a peak of 11.5 per cent in 2011 when Copley started the survey. As much as $2bn has been withdrawn from the UK by this group of managers over the past six months.
“We’re seeing a marked shift out of Britain and into mainland Europe by international fund managers,” said Steven Holden, chief executive of Copley Fund Research.
(Excerpt) Read more at ft.com ...
Do you figure the Irish border checkpoints go up 11/1?
Wait till UK equity markets get a load of the new trade deals the UK will be able to negotiate starting on 11-01. Sky’s the limit for UK equity markets.
No. No one wants that and no one is prepared for that.
Not even smugglers who might want to smuggle in eu made goods will be prepared on 11/1
The physical border questions will arise in 2020.
More scare tactics from desperate remainers.
The UK has been in talks with countries since 2017 about the trade deals.
They’ve managed only 1/3rd so far.
The potential trade deals have been factored in - that’s why the market is low
Watchand then buy.
Market timing is very hard to get it precisely correct, but buying low now and sellig high later is a winning course of action
Ah. So they will be delivery drivers in October, unprosecuted smugglers in November and stopped for searches sometime in 2020? Maybe....?
This is the ultimate fear of all globalists, that a nation will move farther faster by acting in the interest of its own citizens.
Time to buy low. Really.
They will be delivery drivers in October. Then in November they will be delivery drivers who might be stopped at the border for checks and have to pay. And in 2020 they will most likely be stopped.
For the “smugglers” - I meant real smugglers who will see a market to smuggle EU goods bypassing British tariffs (the UK imports far, far more products than products it exports - it is mostly a services economy, exporting services)
You said “If they can manage British affairs... England can emerge”
— The UK is right now made up of 4 nations.
An England will emerge from this on its own
it’s hardly scare “tactics” if the money is already moving out.
Indeed, and everyone in every one of this nations isn't on board with Brexit.
Nevertheless, I suspect you get my point.
The UK must be keeping the EU afloat and if it leaves the whole thing falls apart ,LOL
It’s just money playing musical chairs.
4 Billion!?
Our government farts that amount in waste daily.
That's about GBP 9 billion which does come back in terms of benefits
Yes. The Scots and Northern Irish would leave, but they are a net drain to the English. So England can go it alone with Wales in tow
Not sure about Scotland. Northern Ireland would stay in the UK.
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