Asset managers are divided over Brexit prospects and the government's negotiating strength

 
Alys Key
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Over half of investors were sceptical of the minority government's strength on trading deals (Source: Getty)

It has been more than a year since the EU referendum vote split the nation's opinion, and asset managers are still divided in their thoughts on Brexit, City A.M. can reveal.

In a poll of 1,100 UK investors conducted by Asset Match, exactly half were confident that the UK will be in a stronger economic position following Brexit talks.

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Many of the results showed a divide and level of uncertainty in the investor community, with no overwhelmingly positive or negative consensus.

Over half (57 per cent) of respondents believed Brexit will provide new opportunities for British companies to expand their global presence.

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Just under half (47 per cent) felt that companies would be some of the greatest beneficiaries in leaving the EU.

However, the survey attracted some stronger responses on the UK government, with many concerned about the ability of Theresa May's team to support business.

Six in 10 investors lacked confidence that the current government will help SMEs to grow, while 62 per cent felt the government was prioritising new-age sectors like fintech over the more traditional areas of construction and manufacturing.

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But they were again nearly split on Brexit, with just over half (54 per cent) questioning whether the minority government is in a position to create a strong global trading network outside of the EU.

Stuart Lucas, co-CEO of Asset Match, commented: "Having weakened its hand in the recent snap election, the Conservative Government must now provide bold and confident action to combat this – specifically, Theresa May and her Brexit team must demonstrate that they can make a success of the UK’s departure from the EU by enabling the private sector to seize the opportunities that are emerging."

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