Exit from EU could hit UK asset management firms

Consultancy PwC has said a possible UK departure from the European Union after a future referendum would place the UK asset management industry at risk.

PwC hedge fund leader, Rob Mellor, said that the EU sets the regulatory framework for investment funds and investors in the EU, and that the UK asset management industry currently manages assets for many European investors. Mellor added: “A UK asset management industry outside of Europe may find itself facing obstacles to the continued management of assets for EU based investors. This is a fundamental risk to the growth of the industry.”