(Bloomberg)Hedge-fund managers are sensing opportunity. After enduring the worst first-quarter returns since the start of the financial crisis, the prospect of Britain voting to leave the European Union is creating the market turmoil that can make them money.
As shock waves reverberate through the region in coming weeks and months, measures of volatility could double and currency swings mirror market turmoil last seen when Lehman Brothers Holdings Inc. collapsed in 2008, according to Stephen Isaacs at Alvine Capital Management Ltd. in London. A vote to leave will “exponentially” increase the likelihood of the EU breaking apart, triggering opportunities as assets are repriced across the region, said Luke Ellis, president of Man Group Plc.
