This content is from: Premium

How Ready Were Hedge Funds for the Brexit Rout?

Wall Street appears to have been betting that the “Remain” forces would win, though some funds reduced exposures in the weeks before the vote. The exception: the quants.

With most global stock indices down between 3 percent and 8 percent on Friday following the Brexit vote, one big outstanding issue is just how prepared were hedge funds for a major selloff. According to one prime broker, 80 percent of Wall Street was betting on the U.K. remaining in the

To continue reading, subscribe now to Premium Journalism. Already a subscriber? Login.

Related Content