Asset managers raise Brexit concerns with Government

UK asset managers have raised concerns about Mifid II and delegation in Brexit discussions with the Government.

Chief executives from Standard Life Aberdeen, Schroders and LGIM were among the representatives who met with economic secretary Stephen Barclay last week, the Financial Times reports.

The task force discussed fintech, alternative investments and global trading as ways to improve the UK’s competitiveness as a number of companies open offices or increase footprint in the EU27.

Concerns were raised that EU licences would become void after Brexit.

The group of eight asset managers met with Barclay for an hour and a half and will do so every quarter for the next two years.

Other companies presents were Janus Henderson, M&G, Jupiter, Vanguard, Premier and RLAM.

Investment Association chief executive Chris Cummings and ShareAction CEO Catherine Howarth were also at the meeting.