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Fund managers tally the cost of a ‘Brexit’

The UK’s vote to leave the EU was a big hit for investors who had bet that ‘Remain’ would prevail

Fund managers tally the cost of a ‘Brexit’
Photo: iStockPhoto/FN Montage

As the first ballot counts began to suggest that the UK had voted to leave the European Union, the British pound plummeted, global stocks tumbled and fund manager Richard Benson ordered a taxi.

Benson, co-head of portfolio investments at $15 billion fund Millennium Global Investments, was planning to monitor the referendum results from home but instead, not long after midnight, rushed to his office in central London.

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