Fund managers were left as bewildered as anyone else as to what to make of the UK's no-winner election this morning – but most are hoping it will lead to a softer Brexit, and a few have spotted a buying opportunity.

The mood was captured by Martin Gilbert, chief executive of Aberdeen Asset Management, who said: "The hope would be the result leads to a softer stance on Brexit, but it could also strengthen Europe’s hand. We will need to wait for Westminster to get its house in order - it is certainly not the time for fund managers to be making any knee-jerk investment or business decisions."