BREXIT Happens

UK Prime Minister David Cameron - Addressing Brexit Outcome

UK Prime Minister David Cameron – Addressing Brexit Outcome

Breaking news. The United Kingdom will leave the European Union. The historic voter result sent the British pound falling to a 31-year low.

The final tally is – Leave: 17,410,742 versus Remain: 16,141,241

Bank of England governor Mark Carney says the central bank is ready to provide £250 billion in extra funds. “The Bank of England is monitoring developments closely,” the central bank commented in a public statement released just prior to 7AM UK time.

Sovereign Wealth Funds

How will Brexit impact sovereign wealth fund direct investing in the United Kingdom? According to data from the Sovereign Wealth Fund Transaction Database, sovereign funds directly invested US$ 17.85 billion in transactions in 2014 and US$ 29.41 billion in 2015 into the United Kingdom.

Before the vote, Norway’s sovereign wealth fund notified the press that they will remain a long-term institutional investor in the U.K. regardless of the Brexit outcome.

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