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‘Soft’ Brexit will propel U.K. stocks, Thornburg fund manager says

The “yes” vote in June 2016 for the United Kingdom’s exit from the European Union has held back valuations of companies based in the U.K., but there’s hope for investors.

So-called Brexit negotiations are ongoing, and a “soft” Brexit is more likely than a hard one, according to Sean Sun, co-manager of the $1.4 billion Thornburg International Growth Fund.

The Thornburg International Growth Fund TIGAX, -0.84% was established in February 2007. Sun was promoted to co-manager of the fund from associate manager earlier this year. The other co-manager, Gregg Dunn, was promoted to his current position in 2012 but has been on the Growth team since inception.

A look at the fund’s geographic breakdown shows how important the Brexit negotiations are to Sun and Dunn: