Invesco chief counts the cost of uncertainty over Brexit

One of the world’s biggest money managers has revealed the damage wrought by Britain’s protracted negotiations to exit the EU, saying the outlook should improve only when the terms of Brexit become clearer. Invesco, which manages $955bn in assets from headquarters in Atlanta, suffered big outflows from its UK business in the first quarter, when UK investors accounted for $3.9bn of the $5.4bn drained globally from Invesco portfolios for the period. In the fourth quarter flows from UK portfolios came to $3.3bn of $20bn globally, as a bout of market turmoil prompted investors around the world to shift money to safer assets.