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Paul Marriage Benedicte Gravrand, Opalesque Geneva: Participants at the recent UK Opalesque Roundtable agreed on the market uncertainties in the wake Brexit. But they are all ready to adapt to regulatory changes. One thing for sure though, Brexit brings in a unique opportunity for hedge fund managers to prove their worth, as investors will seek uncorrelated strategies.
In the run up to the UK referendum vote on 23rd June, Schroders’ UK equity portfolio "wasn't positioned for an exit aggressively, but rather tardy neutral," said Paul Marriage, head of the UK Dynamic team at the large investment firm.
"I think most UK equity investors would take a view that UK equities did not have a very strong outlook in 2016, regardless of Brexit risk," he continued. "Now we are on the other side of the vote, and we are out, and there is a lot of coffee smelling to be done by investors and deciding where they want to be positioned. It is quite possible that we will go into a UK recession of some form - however mild, hence the biggest call as to how we trade that."
Schorders’ positioning is short UK domestic and long global long-term winners, "of which there are actually quite a few in the UK," he added.
His firm has a lot of European investors, he later said. And the offshore funds have a Luxembourg registration. "I see absolutely no scenario where people have to leave us because we are running a London-based UK focused long/short fund, especially if that fund ...................... To view our full article Click here
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