Britain’s largest holder of domestic equities has warned against lowering the standards of London’s listing rules in order to revitalise an increasingly barren IPO market.
As reported by Reuters, Britain’s Local Authority Pension Fund Forum (LAPFF), which represents around £350 billion worth of public sector pensions, said it was “very concerned” about the efforts of the Capital Markets Industry Taskforce (CMIT) to dilute British listing and governance regulations.
CMIT, which is chaired by the London Stock Exchange’s chief executive Julia Hoggett, backs measures to make it easier for global companies to list in the UK, including a relaxation of rules surrounding executive compensation.
Pension funds have historically been among the largest investors in UK equities, but their proportionate holdings have dramatically decreased over time.
According to Schroders, defined benefit allocation in UK equities fell from over 50%…
