Despite Brexit's negative outlook dominating most newspapers' front pages, a recent survey, carried out by State Street Brexometer in the fourth quarter of 2018, of 100 institutional and alternative investors, found that almost a quarter of the investors believe that more European fund managers will open offices in the UK. A total of 22 per cent also expect more Asian and US fund managers will do the same.
Brian Allis, head of State Street global services’ EMEA product team, said: “Our research suggests that, despite the headwinds and complexity that Brexit is causing, the UK is still a hub for a tremendous amount of investment management expertise, and an attractive centre for fund management activity in Europe."
Howard Kennedy LLP has had a busy year in 2018 with instructions in capital market transactions including venture capital trust fundraising, standard listing, AIM listing and mergers and acquisitions. We are proactively involved in Brexit-related legal updates and we closely monitor the legislative and sector news in the event of a no-deal exit from the European Union. The capital market team is well placed to advise its clients in the months of uncertainties to come.
Britain’s exit from the European Union could spark a flurry of activity among continental fund managers keen to establish a foothold in the UK. Many non-UK asset managers are considering opening offices in Britain for the first time as a result of Brexit, according to fresh industry research. Around one in three in the sector believe Brexit will lead to an increase in merger and acquisition activity, with almost a quarter expecting more European-based operators to open offices in Britain.