Marathon Asset Management Assembling 'Shopping List' Of Bonds Hit By Brexit

On Tuesday, Bloomberg reported that the fund is looking to scoop up corporate bonds as part of a "shopping list."

Richards believes junk-rated bonds will decline 2.5 percent from their current prices following the Brexit vote. He also expects European stock markets to further shed another 10 percent and the S&P 500 index to drop another 5 percent.

Meanwhile, Richards placed the likelihood of the British government following through with the Brexit process at 80 percent. In the meantime, the country's economy could contract by 0.5 percent next year due to a slowdown in corporate hiring and capital expenditure plans, consumers spending less and a drop in real estate prices and the stock market that weakens sentiment.

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"You have to see the economic impact and we think that will take months — not hours or days — to materialize," Richards told Bloomberg in a telephone interview. "We have our sights set on several companies we think that will be under pressure and at lower price points could make for an interesting opportunity."