BlackRock warned if the UK people vote to exit the European Union, it would greatly impact the British economy, with the property market, the sterling, and the stock market will possibly suffer.
In a report for clients, the asset manager implied Prime Minister David Cameron could lose authority over his Conservative party regardless of the outcome of the in/out referendum on June 23.
BlackRock strategy adviser Rupert Harrison, Chancellor George Osborne’s former chief of staff, is one of the report’s authors who support an EU exit.
BlackRock Vice Chairman Philipp Hildebrand said a Brexit offers numerous economic risks with minimal rewards. It could result in lower growth and investment, as well as higher inflation and unemployment rate.
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