One of the City’s best-known fund managers has joined UKIP as the business world continues to pick sides over Europe.
Andy Brough, who manages Schroders’ £1.4 billion mid-cap fund, is understood to have joined Nigel Farage’s party after growing weary with the coalition and European attacks on the City.
The outspoken 52-year-old has worked at Schroders since 1983 and is one of the industry’s longest-serving figures. News of his support of UKIP will come as a timely boost for Farage after a group of high profile business leaders — including Sir Richard Branson and Sir Martin Sorrell — wrote to the Evening Standard’s sister paper The Independent, accusing Eurosceptic MPs of putting “politics before economics” and abandoning the national interest in their calls for Britain to leave the European Union.
Brough, who declined to comment, is not alone in his support of UKIP, with IG Group founder Stuart Wheeler currently the party’s treasurer. Hedge fund boss Crispin Odey also held an event to introduce Farage to City figures yesterday.
He said: “I’m not a member of UKIP but I think Nigel has managed to move the party a long way from looking like a bunch of swivel-eyed loons.”