Sovereign Wealth Funds ‘Ring-Fence’ U.K. Assets Ahead of Brexit

Northern Trust says 30%-40% want to segregate their assets
Asset management chief says Brexit will be ‘tough’ for economy

A European Union (EU) flag, front, and a Union flag, also known as Union Jack, fly in front of Elizabeth Tower, commonly referred to as Big Ben, during a Unite for Europe march to protest Brexit in central London, U.K., on Saturday, March 25, 2017. U.K. Prime Minister Theresa May is ready to officially start the process to leave the bloc on March 29.
Photographer: Luke MacGregor/Bloomberg

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By Sarah Jones

July 25, 2017 at 8:03 AM EDT

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Northern Trust Asset Management’s largest clients including sovereign wealth funds are separating their U.K. assets from their European and global portfolios as they await the outcome of Brexit.

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