Stocks to defy the EU debate - whatever the verdict

Investment trust managers are split in the run-up to June's referendum on the UK's membership of the EU, with some cutting their UK exposure in anticipation of heightened market volatility over the coming months, while others argue fears over the prospect of an independent UK are "overdone".

The vote is currently too close to call, with an Ipsos Mori poll revealing the 'in' campaign's lead has narrowed recently to 49%, and around 41% want to exit.   Tim Stevenson, manager of the £198m Henderson EuroTrust, believes claims that an EU exit will not have any negative consequences on the economy are "naïve", as he anticipates further volatility will hit markets as the 23 June vote nears. "The 'outs' maintain that a short transition will ensue before the UK economy returns to sunnier climes. Whichever view prevails, uncertainty caused by the vote may hinder any signs of real pr...