Hedge funds whose multimillionaire founders backed the campaign to leave the EU will not think twice about abandoning Britain and picking off businesses damaged by Brexit, a leading investment manager has claimed.
Elizabeth Desmond, the chief investment officer at Mondrian Investment Partners’ UK operation who oversees $60 billion of assets under management, said that “high-profile” hedge fund backers of Brexit will leave the UK if the economy turns sour.
“I do believe we shouldn’t for even a minute think that despite their responsibility they will stick around if things get difficult,” she said. “As for crashing out with no deal, you can be sure they will be eagerly waiting out the disaster on the sidelines with their vulture funds ready to pick up the pieces.”