French Brexit Fund Sees Euro-Region Breakup as a Greater Risk
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A French asset-management firm is offering its clients an opportunity to hedge against the euro zone’s break-up by betting on European exporters that sell most of their products outside the bloc.
Financiere de la Cite’s FDC Brexit fund is weighted toward U.K. companies including Smith Group Plc, Diageo Plc and BAE Systems Plc, which are profiting from the pound’s weakness in the wake of the Brexit vote. The 47 million-euro ($51 million) fund has also invested in Swiss and Scandinavian companies since it was launched in December and is having a roadshow to raise more money.