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UK investors set out case for enduring strength of UK equities

UK investors set out case for enduring strength of UK Equities

London, 21st January 2026

The Investor Forum has published a new paper setting out why UK institutional investors believe a UK public listing continues to offer tangible benefits to companies.

Produced in conjunction with the Forum’s membership, Reframing the narrative on the UK market (here) presents an investor perspective on the role the market and UK investors can play in supporting listed companies. While acknowledging recent market trends, contributors argue that the debate around UK equities has become overly narrow, often focusing on short-term outcomes rather than on the structural features that shape value creation over time.

The paper identifies a number of characteristics that investors believe still underpin the UK equity market. These include the support of investors that can remain invested through market cycles, often via pension funds and insurance structures, and a stewardship culture in which investors and boards are accustomed to engaging constructively on strategy, governance and capital allocation.

Investors also point to the ability of listed companies to raise additional equity when required, including during periods of market stress, and to the breadth of the available shareholder base, which spans investors managing funds across the full spectrum of investment styles. Taken together, contributors suggest these features support liquidity, resilience and the capacity of quoted companies to adapt as conditions change.

The paper acknowledges that these strengths do not insulate the UK from global competition for capital, nor do they remove the attractions of private ownership for some businesses. However, investors argue that the contribution of long-term, engaged shareholders to governance quality, capital discipline and strategic continuity is often under-recognised in current discussions about market structure and performance.

A recurring theme is the quality of engagement between investors and boards. Contributors note that the UK’s governance framework, supported by the Stewardship Code, has helped foster a culture in which dialogue between shareholders and directors is relatively open, expectations are better understood and challenge is more readily absorbed.

Chris Kinder, CEO of the Investor Forum, said:

“I am pleased to present this summary of member views on the value that the UK investment community can bring to companies that are already listed or are considering listing in the UK. The themes of long-term ownership, high quality engagement and a propensity to support companies as they develop and grow are at the heart of the Investor Forum’s ambition to link stewardship and long term corporate success. I hope this paper brings that to life.”

Iain McCombie, head of the UK equity team at Baillie Gifford, said:

“One of the UK market’s enduring strengths lies in the depth and openness of board-level relationships. UK boards are not only accessible, they are receptive to challenge and dialogue, creating a uniquely fertile environment for constructive influence.”

Alongside governance and engagement, investors also emphasise the role listed companies play in supporting long-term investment in the real economy and facilitating growth through access to capital.

Emma Mogford, UK Equity Income Fund Manager at Premier Miton, said:

“The UK has all the necessary elements for a thriving capital market, but it needs support. Through promoting the benefits and directing savings into UK companies, the public market can provide more investment for growth in new and existing businesses, which in turn create jobs and wealth for the economy.”

Contacts:

  • The Investor Forum

Chris Kinder

[email protected]

Tel: 020 7611 2218

  • Lansons

Tom Baldock

[email protected]

Tel: 07860 101 715

NOTES TO EDITORS:

  • The Investor Forum is an independent, not for profit organisation which was founded in October 2014. At the end of 2025, 50 organisations are Members, including asset managers, insurance companies, pension funds, and endowments.
  • Members have ~£18trn in Global assets under management, and £629bn invested in UK equities, which represents ~23% of the FTSE All-Share market cap.
  • The purpose of The Investor Forum is to position stewardship at the heart of investment decision making by facilitating dialogue, creating long-term solutions, and enhancing   value.  
  • The Investor Forum has built a unique public record of 59 comprehensive collective engagements with the Boards of UK-listed companies since its inception, covering issues from succession and governance to the direction and execution of strategy.
  • The executive team comprises senior professionals with international experience as portfolio managers, asset owners, or investment banking sales and research management.
  • The Board is comprised of Directors with a range of stakeholder views, including representatives from Member firms. 
  • For more information go to the following link: The Investor Forum