UK AIFs won't be Brexit's big losers

Author: Lizzie Meager | Published: 21 Oct 2016

Among the various types of financial and investment services in the UK, alternative investment fund (AIF) managers are not set to be the biggest losers in the absence of a passport post-Brexit.

For Europe-facing and Ucits [Undertakings for the collective investment in transferable securities] it’s obviously a different story, as the latter can only be established in an EU country and must be managed on a cross-border basis.

"It’s just not true that London will go to the dogs without a passport, at least in the alternatives world," said Tim Andrews, director of development for Ipes, a European fund administrator. "The vast majority of UK-domiciled managers are internationally focused with an international investor base, often working with US dollars."