UK assets to remain unloved whoever becomes PM

For years only one thing has mattered to money managers focused on Britain - the risk of a messy divorce from the EU pummelling its assets and darkening its economic prospects

23rd July, 2019
Johnson win expected to hit sterling

“Markets will remain fixated on the Brexit process above all else,” said Edward Park, deputy chief investment officer at Brooks Macdonald Asset Management. “UK corporate earnings, economic fundamentals and business sentiment all play second fiddle.”

Park is holding below-benchmark positions in equities and sterling, and he’s not alone. A net 23 per cent of global investors are underweight the UK, giving it the dubious distinction of most-disliked region for 41 consecutive...

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