Brexit would damage UK economy, warns BlackRock

World's largest asset manager says vote to leave EU could trigger lower growth and investment in Britain

The world's largest fund manager, BlackRock, has warned that a Brexit vote would damage Britain's economy by leading to lower growth and investment, and possibly higher unemployment and inflation.

In a gloomy analysis, the US asset manager said a decision to leave the EU would also hit the pound and UK equities, as well as damaging Britain's financial industry, the London property market and the fashion industry.