The number of jobs that asset managers may have to move because of Brexit, and whether they are adequately staffed to execute necessary business changes, are the two main concerns of the UK's City watchdog, according to a letter sent to the country's largest fund houses.

The Financial Conduct Authority sent a questionnaire to the UK's 20 largest asset managers in early May as part of its effort to understand what plans firms have regarding Brexit, according to an FCA spokeswoman.