Brexit creates uncertainty in Europe’s financial center
More than a year after the Brexit vote, London still seems to be a dynamic Mecca for finance. But below the surface, people working in the sector in the UK capital harbour worries that the lack of political agreement over the break with the EU could damage the financial industry.
By Daniel Hedelund
On the waterside by London's Canary Wharf business district, there are no immediate signs of the financial center's decline.
AP7’s equity and fixed income funds are the biggest on the Swedish market. Removing them leaves just 9% for the others on the top ten list - but that 9% is dominated by one major bank, Morningstar figures show.
Investors fled every major asset class in the past week, with US equities and Treasuries a rare exception to the massive exodus, amid concerns that tightening monetary policy will push major economies into a recession.
The market turmoil in the first three months of the year has had more of an effect on Evli than outflows, though the fact that international investors have pulled out of Evli’s corporate bond fund has been felt.