M&G's Woolnough: Trump as US president more worrying than Brexit

Donald Trump standing as Republican candidate

M&G bond manager Richard Woolnough has said the US presidential election is more of a concern for markets than the threat of a potential Brexit.

The manager (pictured) runs the £14.9bn M&G Optimal Income, £4.5bn Corporate Bond and £4.2bn Strategic Corporate Bond fund. While he feels the upcoming EU referendum would cause volatility and uncertainty in markets, he said the US presidential election is a much greater concern. Woolnough said: "The likely impact on UK credit will be noise and uncertainty, but although Brexit fears are likely to cause volatility, a far more important political issue is the US election. "Investors should be less concerned with the EU referendum and focus more on the possibility of Donald Trump as U...