During Investment Week magazine's short summer break, the impact of the Brexit referendum on asset management businesses in the first half of the year was revealed in all its gory detail.
According to the latest Pridham Report, groups suffered their highest ever quarterly outflows in Q2, and net redemptions for two consecutive quarters for the first time in 30 years. Meanwhile, the latest figures from the Investment Association show UK funds recorded net retail outflows of £1bn in July, as cautious investors continued to sell out of equity and property funds in the wake of June's Brexit vote. This comes after redemptions of £3.5bn from UK funds in June, in the immediate aftermath of the EU referendum. However, the longer-term repercussions of the vote on flows will tak...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
