Mike Sales: Ceiling beyond which yields will not move out

Fund managers in the UK have begun a chaotic day ahead, updating investors and starting an adaption to life outside the European Union.

Mike Sales, global co-head of TH Real Estate, the $26bn property manager, said that he was “slightly shocked” but that the company had been preparing for the eventuality and it had “identified work streams or areas such as valuation, product regulation, tax and operations among other areas to work through the various issues and consequences”.