AXA IM's David Page - Scottish Referendum II: Deferred poll limits market impact


David Page, Senior Economist at AXA Investment Managers (AXA IM), comments on the Scottish National Party’s (SNP) call for a second referendum.


Key points:

  • SNP’s Sturgeon’s call for a second Scotland referendum has been rebuffed for now by UK Prime Minister May.
  • The note discusses the likelihood of a second plebiscite being held only after the next General Election (May 2020).
  • As such he sees little market implication and does not expect this to have a material impact on upcoming Brexit negotiations.


To read the full note please see here.



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AXA Investment Managers is an active, long-term, global, multi-asset investor focused on enabling more people to harness the power of investing to meeting their financial goals. By combining investment insight and innovation with robust risk monitoring, we have become one of the largest asset managers in Europe with ambitions to become the chosen investment partner of investors around the world.  With approximately €717bn in assets under management as of end December 2016, AXA IM employs over 2,350 people around the world and operates out of 29 offices in 21 countries. AXA IM is part of the AXA Group, a global leader in financial protection and wealth management.

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