Having for decades burst forth with a chorus of joyous, insular, anti-continental, anti-European voices, the English are now giving in to a doomed, almost classic cacophony.

The markets, however, had anticipated Parliament’s refusal to vote for the deal negotiated by the government. Investors seem to believe less and less in the Brexit fairy-tale. Either way, three years on, the facts speak for themselves: coming out of the European Union is complex and costly, as the British are now finding out.

Theresa May, who is trying to keep all sides happy on this English and Northern Irish political chessboard would do well to read once again Winston Churchill’s famous saying: “an appeaser is one who feeds a crocodile, hoping it will eat him last”. Except that, in her case, Brexit could swallow her up for good. 29 March is still in the cross-hairs, but no-one dares to think about the hard Brexit that would be triggered by political deadlock in the United Kingdom.

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DNCA Finance

DNCA Finance

DNCA Finance is an asset management company founded in 2000 by three wealth management specialists on behalf of private and institutional clients.

Over the years, founders have built a skilled and experienced management team to develop a range of simple, understandable and performing funds around 5 areas of expertise : European equities (“long only” and “absolute return”), Diversified management, Convertibles bonds, Eurozone bonds and ISR.

We offer a comprehensive range of products composed of 31 mutual funds French and Luxembourg domiciled (FCP and SICAV) organized in four areas of expertise: Fixed Income, Absolute Return, Diversified, Equities.

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