Brexit isn't a Repeat of the 2008 Crisis, Says Smiles

Investors are pulling money from U.K. property funds as analysts warn that London office values could fall by as much as 20 percent within three years of the country leaving the EU. During the financial crisis of 2007 and 2008, real estate funds were similarly hit by redemptions and forced to halt withdrawals, contributing to a slump in property prices of more than 40 percent from their peak in Britain. UBS CIO of Ultra High Net Worth Simon Smiles discusses with Bloomberg's Francine Lacqua on "The Pulse."

U.K.'s May Calls for Two-Year Brexit Transition Period
38:52 - U.K. Prime Minister Theresa May speaks in Florence, Italy on the need for a period of implementation after the nation leaves the European Union. (Source: Bloomberg)
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