Threadneedle are a big, well-established fund manager, whose funds many of you may or may have owned. They’re moving all of them offshore. Now other fund managers, most of them already foreign (a word we can now start to use again) routinely base their funds in Dublin or Luxembourg, usually for their own tax purposes.
Threadneedle’s motivation is access to a much wider market place, without hindrance post-Brexit. We’ll still be able to invest with them; but offshore. Perhaps we should licence true-Brit brand names to true-Brit companies in the Brave New World; but I suspect Threadneedle are the thin end of what will be a fast-expanding wedge.
