Listings reform will not cure 'general disinterest and malaise' in UK capital markets

Pensions and GB ISA key fixes

Fund managers have argued the issues plaguing UK capital markets stretch beyond the Financial Conduct Authority’s listings regime reforms.

Several managers told Investment Week the changes to the regime would take place in a backdrop where, over the last 25 years, there has been an 89% fall in pension, and 50% drop in retail, investments in UK capital markets. As a result, this geographical reallocation has created a situation where "selling begets poor performance, which creates a general disinterest and malaise in which companies would rather re-list to the US, and funds rather ‘go global', than call London and the UK home", argued Henry Dixon and Jack Barrat, discretionary portfolio managers at Man Group. London remai...