The French, being awkward, annoying and trying to take advantage of the stupid rosbifs? Shurely shome mishtake. Fact is, most UK fund managers who market their investments in Europe (ie most UK fund managers) base the funds themselves in Dublin or Luxembourg (for, guess what, tax purposes), while the investment decisions are made here. It’s not beyond the realms that a little rule could be slipped in somewhere insisting that the investment management bit has to be in the EU, too. Which means either expensive relocations or getting out while the going’s good. Which could mean some bargain-basement buys upsetting still further the entente cordiale.