REVEALED: City bankers set out demands for Brexit – and it includes migrant workers
BRITAIN's hedge funds have laid out a list of Brexit demands for the Government, which includes continued access to workers from the European Union (EU).
Hedge funds have laid out Brexit demands
Following the vote to leave, financial companies have been pressuring ministers to adopt an exit they would benefit from.
The investment groups also want to keep the so-called passporting rights, so they can continue to sell services across the European Union (EU).
The Alternative Investment Management Association (AIMA), a global hedge fund industry association, said it would be heavily involved in Brexit negotiations.
Around one in five of UK hedge fund workers are non-British workers from the EU, according to the group.
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The AIMA said: "The UK industry should continue to be able to access investors and provide investment management services to clients in the EU following Brexit.
"The UK industry should continue to be able to access skilled workers from the EU and beyond following Brexit.
"The relationship between the UK and the EU for financial services should be based on an overarching international agreement based on equivalence and reciprocal non-discriminatory access."
British firms should be able to manage EU-based funds or accounts even after Brexit, added the group.
Around 85 per cent of European hedge fund assets are managed from the UK, according to AIMA.
Cash from Europe accounts for about a quarter of the money managed by UK firms, the group added.