James de Uphaugh: De-globalisation could benefit UK market

Achilles heel to become benefit

James de Uphaugh, manager of the £1.2bn Edinburgh Investment trust, believes a combination of ‘nearshoring’ and the make-up of the FTSE will benefit the UK market in coming months.

In an interview with Investment Week following the trust's latest annual results, the manager said a combination of ESG concerns, the war in Ukraine and supply chain issues as a result of Covid has meant there is "a degree of nearshoring" as corporates look to de-risk. "I think that the UK has certain companies which do benefit from that, because we as UK stock market have been quite pioneering, I think, in terms of our approach to ESG," de Uphaugh said. Nearshoring is when companies move their operations to a nearby or domestic country from a further-out source, something which has b...