The UK’s departure from the European Union is still up in the air, despite setting a new date in October for leaving. There remains no clarity on where the country will stand in terms of a deal by the time the formal process is triggered. When the UK finally leaves, it probably faces two extremes – a hard or soft Brexit.
In the past three years we have seen the “revenge of the index” in the UK, where a market narrowly led by the large commodity stocks has made it harder for all-cap managers to keep pace. Are we now on the precipice of a reversion of this? Could there be enough attractive targets within the market that are opportunities for actively managed funds – heralding the return of activism? Richard Colwell, Head of UK Equities, discusses.