Sovereign Funds May Sell off U.K. Assets on Brexit Deal
- Invesco report shows institutions plan to underweight U.K.
- Investors question future of Britain as an investment hub
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Sovereign wealth funds and central banks may look to cut their U.K. assets in 2017 after sentiment toward the country slumped in the aftermath of Britain’s vote to leave the European Union, an Invesco Ltd. report showed.
About 41 percent of institutions, who together oversee about $12 trillion in assets, said they expect to introduce new underweight positions in the U.K. this year, according to a survey published Monday. Britain was deemed to be the least attractive developed market to invest in, falling behind Italy and France. The country scored 5.5 out of 10, down from 7.5 in 2016.