Average global funds hold a third less in the UK than before Brexit

Brexit risks still an issue for managers

The average UK weighting in IA Global funds has dropped by a third since the Brexit vote six years ago, data from Quilter Cheviot has found.

On the sixth anniversary of the Brexit Referendum vote Investment Week examined how much global funds were investing in the UK post-Brexit. As of January 2016, the average UK weighting in an IA Global fund was 12.4%. By the end of the year, after the vote, it had dropped to 10.8% and has decreased consistently year-on-year, accelerating in 2020 as Covid took hold. To date the average global fund has a UK weighting of 8.4%, a decrease of 33.1% overall. The Brexit saga has peaked and troughed, with the UK finally leaving the EU with an agreed deal of 31 January 2020, but issues have ...