Henderson's Formica: Brexit impact will be 'modest' on UK asset managers

Reported record net flows for 2015

Henderson Global Investors' chief executive Andrew Formica has said a Brexit would have "modest" impact on UK asset managers but will weaken the industry's influence when it comes to forming European regulation in years to come.

In a call to clients this morning following its full-year results for 2015, the chief executive (pictured) said the impact of the UK leaving the European Union would have limited impact to his business as so many UCITS funds are already domiciled in Luxembourg. Henderson AUM hit by market weakness in Q3 "We have seen American firms have UCITS funds and the ability to sub-contract to European and non-European countries. "The UK is the largest asset management business on the European stage but outside of that, in the result of a Brexit, it will not have a voice that can influence reg...