The FTSE 100 has hit high after high recently, and significant further gains could lie ahead.
If they do, I worry that UK investors will miss out.
Our pensions and savings used to be heavily biased towards British stocks and shares, but over time the pendulum has swung in the opposite direction.
Defined benefit pension funds and insurance companies owned around half the UK equity market back in the 90s. Today it’s just 3pc.
Popular trackers that mirror indices like the MSCI World Index have just 4pc exposure to the UK market. More than 70pc of that index is in US stocks.
Over recent years – and certainly since the Brexit vote – investing globally rather than in the UK has been a smart move. Looking towards America has proved especially profitable.
But there’s a growing argument to be made that this is changing.
In Japan, shares have risen 50pc in the past 18 months. It shows what can happen…
