Schroders star Andy Brough signs up for Ukip
Friday 24 May 2013
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, making him one of industry’s longest-serving figures. He is well-known for having forthright views, and recently overhauled his fund after a period of poor returns.
News of his support of Ukip will come as a timely boost for Farage after a group of Britain’s highest profile business leaders — including Sir Richard Branson and Sir Martin Sorrell — wrote to 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 by no means 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.”
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