Uncertainty Will Slow BT Investment Management's U.K. Growth (Corrected)
BT Investment Management’s shares were sold down 13.5% on Friday, June 24, and continued to fall on the following Monday. While the implications of the U.K. voting to leave the European Union are unclear, the fall in equity markets and weakening British pound versus the Australian dollar has an immediate impact on earnings. We believe the equity market sell-off will see the value of both Australian- and U.K.-based funds under management, or FUM, fall at the end of the June quarter. London-based ...
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