In this 2-part series, City A.M. asked UK-focused fund managers what they make of post-Brexit trade arrangements, the impact of three lockdowns and the long-term outlook for the UK’s investment community. Yesterday, in part 1, the investment managers focused on the UK-EU deal and which sectors and companies may become the winners and losers from the trade agreement. Today, fund managers discuss how the third lockdown has affected businesses compared to the previous two and they zoom in on the investment space in the long-term. Better positioned Despite the Brexit trade deal coming into force at the beginning of the year, the investment community was dealt another blow when the government imposed a third national lockdown earlier this month.