New EU rules threaten London managers' trillions in AUM

London

BRITISH-based investment firms' long-standing ability to manage billions of euros of assets elsewhere in Europe could be threatened by Brexit, new EU guidance suggests.

Asset managers in London oversee funds worth 1.2 trillion euros (S$1.9 trillion) in the EU - more than their peers in France, Germany and Italy combined, according to figures from UK industry body the Investment Association.

Previously, many mangers had said they expected the impact of Brexit on their operati…