Ann: 3rd Quarter Trading Update, page-22

With some UK holdings, including  CYBG,   was cautious about further investment  after the UK's leave EU campaign.

The campaign to vote for UK leaving EU was rhetoric, promises without substance,  lack of clear plans. 

Feel the UK finance sector remains largely negative about consequences of leaving EU. 

Other UK companies with links aound Europe grown over time now considering impacts upon their businesses,  some consider moving to EU so business remains easier for them.

This long since the vote still lacking clarity,   so until consequences become clearer,  remains  easier to be negative.  

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