The Best And Worst of Post BREXIT – My Personal Perspective

The UK and London speci­fically has long been a favoured investment location for individuals and institutions. We (ACE Funding/Interestates Europe) believe post the BREXIT vote on 23rd June 2016 that the volatility in world markets and politics will mean informed individuals will look at the fundamentals; on this basis the UK compares very favourably. No one knows the outcome but the opportunities to assist in providing those hoovering up yielding assets is keeping us extremely busy with discounts up to 20% for Billions of pounds’ worth of UK assets available and growing fast. My focus in business like many other business owners is about feeding our economy and I am proud to be in what is arguably the capital of the world dare I say. The UK punches well above its weight and for such a small island it is incredible what we have achieved however our government and policitian’s don’t so us any favours at the best of times more recently. We are taking a leap in to the unknown so the next few years will be challenging, will we ‘do a Norway’ joining the European Economic Area paying about 83% as much into the EU budget as the UK currently does. Brexit would allow the UK to negotiate its own trade deals with non-EU countries. On the basis we are small the UK would have far less bargaining power than the EU. Let’s see how things develop now that we have a new Prime Minister and once the summer passes.

The worst experience;

I bumped in to a group of friends at a local restaurant bar in Chelsea, one lady was clearly ‘celebrating’ that she had her country back. I couldn’t resist to quiz her to ask what she meant exactly fearing I had entered in to the wrong conversation “Well my father fought for this country” I replied so did my grandfather and every other member of my family (at least 3 deaths) sorry I don’t understand your point? Do you want to go back to a 3-day week in the 1970’s, do you want to go back to just after the 2nd World War struggling for years after with Government Food Rations? Or to the days when we had our Empire even? Is this about Nationalism? Have you considered your viewpoint is not exactly conclusive or adding much value with our position within the world? Can you celebrate something more substantial? Moving on swiftly I said on the basis you don’t want any more foreign people in YOUR country it seems what do you propose as a solution? We, Londoners, happen to have the most amazing foreign work force which quite frankly without it London would not exist – in fact going back hundreds of years and more recently the Irish, West Indian’s, Asians and Middle and Eastern Europeans to mention a few. The conversation ended. Should I have stooped to her level and retaliated further and said ok so not more foreign construction workers because you don’t want them here to take our British workers jobs, let us outsource our property development work to Modular construction companies abroad and save a lot of time, money and indeed to keep the local authorities and residents happy with far less disruption – therefore my company and investors would gain considerably and our British developer partners would lose out clearly. I am sure you agree people like that are not worth the energy and our focus is to keep our country in work and hold a more than reasonable respected position within the world. By all means come up with constructive viewpoints which there are many, albeit I voted to stay in I do understand some of the merits of being OUT. What I can’t abide the racial opinion of some bigoted individuals leaving the EU which have featured heavily in our media including racial attacks.

The best experience;

Meeting our funders who see post BREXIT as a unique opportunity to do business in the UK due to a variety of obvious reasons including the value of the pound and the property fund’s offloading yielding assets at a rate of knots. We are incredibly busy whilst at the same time none of us know how long this good fortune will last with no clear strategy from the government. ACE Funding are making hay whilst the sun shines but like everyone else we don’t know what the future holds, we remain positive looking forward to re-negotiating our place in Europe and the World. Our very good friend M.Ron Wahid, Chairman and Chief Executive officer of Magellan Investment Holdings, an Anglo-American investment holding company contributed a really interesting article in USA Today July 16th 2016.

Despite the doom and gloom, Brexit is an opportunity for American businesses. While Brexit may prompt the flight of some financial services companies from London, Britain’s tradition of democracy and its belief in business as the driver of growth, combined with the weakening of the pound sterling, should prompt many others to stay.”

Mr Wahid goes on to say “For American companies, there is a diplomatic advantage to staying in Britain. Brexit may well serve to strengthen U.S. relations with Britain by formalizing a trade agreement that gives American companies an advantage. After all, Britain shares many more characteristics with the United States than with its European neighbors, including cultural norms and the belief in capitalism as the driver of economic success. A trade agreement would not be di cult to develop between the two allies.”

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