Investor Forum says decline in market’s relevance over past 25 years has been ‘breathtaking’
email rounding up the latestUK equities are no longer seen as a “must own” asset class, according to a group representing some of the world’s largest investors that has called for a reset in relations with British companies to help drive growth in the market.
“The declining relevance of UK equity markets over the last 25 years has been breathtaking,” said Andy Griffiths, the group’s executive director. In its annual report, the Investor Forum again warned that relations between investors and companies “require a reset”, saying that as the “stewardship agenda expands, the focus of investors on bespoke engagement with UK companies has reduced”.
In the 11 months to the end of November, UK savers withdrew a further £10.8bn from funds investing in UK equities, making 2022 the biggest year of outflows in a decade, according to data from the Investment Association. But the Investor Forum said better analysis of the underlying causes of the decline in the attractiveness of UK equities was required, “which must surely run much deeper than the criticism of the UK’s ‘gold-plated’ governance codes or the divisive issue of executive remuneration”.
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