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Wealth management mergers are driving further selling of UK equities

Major investors have been pulling back, contributing to the UK market’s woes

By David Wighton
Financial advisers are looking for scale and consistency, but small-caps don’t often fit model portfolios
Financial advisers are looking for scale and consistency, but small-caps don’t often fit model portfolios Photo: Getty Images

David Wighton is a columnist for Financial News

There is broad agreement that the prime cause of the malaise in the UK equity market has been selling by pension funds since the late 1990s. Their allocation to UK shares has fallen from 44% to just 4% over the past 25 years, according to brokers Peel Hunt.

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