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Investment Week (December 9)

2017/ 12/ 10 by jd in Global News

“The industry has been gripped by fears of an impending market correction for some time now and debating what could cause a pullback, but talk may have been premature as global equity markets continue to hit fresh record highs into the latter stages of 2017.” UK wealth managers have been “more downbeat than their global peers” due to domestic issues like “negotiating Brexit and the potential for a Labour win if another snap General Election is called.”

 

The Independent (November 26)

2017/ 11/ 27 by jd in Global News

“Brexit has been a long, slow process in accepting the reality that should have been better understood before the referendum. In the next three weeks, some things will become brutally clear that should have been obvious long ago.” Theresa May’s path to the next EU Council on December 14 will be “strewn with unpalatable truths.” The £40bn exit bill and continuing sovereignty of EU law during the transition are just the beginning. “As it turns out, it may be that the more difficult intrusion of reality into the Brexit negotiations is the question of the Irish border.”

 

Reuters (November 3)

2017/ 11/ 04 by jd in Global News

“The Bank of England’s first rate rise in over a decade is for now at least a ‘one and done’ move, according to economists in a snap Reuters poll who said the next increase won’t come until after Brexit in March 2019.”

 

The Straits Times (October 24)

2017/ 10/ 26 by jd in Global News

“It will almost certainly turn out that Britain was more powerful—with more sovereignty—when it was part of a large organisation with international clout.” Following Brexit, the UK will likely be isolated, “with far fewer allies. British consumers, workers and entrepreneurs will pay the price.” But the UK’s fall should provide the rest of the world with a valuable lesson. “The sight of Britain’s sudden banishment to a world where you are better off dealing with cousins will be a useful tonic for everybody else.”

 

The Guardian (October 23)

2017/ 10/ 25 by jd in Global News

“Weak, depressed and despondent” describes the government benches as Prime Minister Theresa May made her “now-ritual update” to the Commons “on the continued lack of progress in the Brexit negotiations.” The update has “become as painful for the Conservative party as it has for the prime minister.” That said, it should be noted that some “deranged Brexiters” found a chance to roar “their approval at Britain becoming worse off than Mongolia and Mauritania.”

 

IPE Real Assets (October Issue)

2017/ 10/ 23 by jd in Global News

With the uncertainty of Brexit, “REITs have been trading at discounts to net asset value (NAV) of around 15% to 25%.” Faced with scant opportunities, some are electing to return money to unitholders through buybacks or special dividends. But there is clearly a “disconnect between sentiment in the public markets and private markets.” As REITs encounter “limited opportunities in the office space, institutional investors, particularly global investors, have made many high-profile acquisitions.” This includes “the UK’s largest-ever office deal…in July when Hong Kong’s Infinitus Property Investment bought the iconic ‘Walkie Talkie’ building at 20 Fenchurch Street for £1.28bn.”

 

Reuters (October 12)

2017/ 10/ 13 by jd in Global News

“Nerves are fraying in the Brexit talks, negotiators are trying to work out if the other side is bluffing about walking away, and a ticking clock is fast narrowing British options come March 2019.”

 

Reuters (August 6)

2017/ 09/ 07 by jd in Global News

“Watching the slow-motion crash of Britain’s exit negotiations with the European Union is a disconcerting experience. A state that once ran a global empire is looking second-rate.” Realism has all but been abandoned. “The government’s implausible expectations about what it may be able to achieve” reveal a “dismaying lack of historical and strategic understanding about how Britain lost its clout outside the European club more than half a century ago.”

 

Bloomberg (August 29)

2017/ 08/ 31 by jd in Global News

“Brexit is beginning to look like a classic case of a mountain giving birth to a mouse” and, except for losing its say in EU affairs, little is likely to change. “The U.K. will simply lose its vote in the EU. The rest will remain as it is now for an indefinite period during which a new trade deal will be discussed in the standard EU fashion — slowly, deliberately, with each of the 27 EU countries working through its own agenda until there’s a consensus.”

 

Reuters (July 27)

2017/ 07/ 28 by jd in Global News

“British-based investment firms’ long-standing ability to manage billions of euros of assets elsewhere in Europe could be threatened by Brexit.” Newly issued EU guidance suggests regulators will crack down on “delegation” with the aim of preventing investment firms from “setting up ‘empty shell’ subsidiaries in an EU country, to allow them to continue serving European clients, but leaving the bulk of their management staff and operations in London.”

 

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