The pension fund should invest more in British stocks, investors told the minister.

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Major fund managers warned that the London stock market was in Rock Bottom at the Downing Street Meeting, and the ministers urged the UK pension funds to assign more than 5 % to domestic stocks.

The British Stock Expert Group, led by Nick Lawson, chief executive of Investment Group Ocean Wall, discussed how to activate the public stock market by meeting Varun Chandra, a special government advisor.

The fund manager explained concerns about the status of the British stock market and agreed that investors were on the bottom.

The meeting emphasized some tasks, including the fact that the listing of the UK market surpassed the new initial public product, the clear evaluation gap between the UK and the US company, and the fact that the British company is in charge of cheaper by private equity and foreign buyers.

Participants also said the company is facing ruin loops due to the domestic pension fund, which is a net seller of British stocks for nine consecutive years.

The meeting was held after the day after the US food delivery company Doordash signed a 29 billion contract with a British rival Diversitoo. Four years after receiving 76 billion people in London, one of the bankers lost more than a quarter of value on the first day of the transaction after being dubbed by the worst IPO in London history.

As the valuation became a big factor in determining where the company was selected to be listed, the UK's low achievements urged to look at overseas, especially the United States. The cost of listing and governance were also cited as off -footing.

Participants in the Downing Street Conference have created examples to raise domestic stock allocation for the UK pension fund, including obligations.

The goals of 5 %, 8 %, and 10 %were discussed as a reasonable threshold to be considered, and there was a widespread agreement that the defined contribution system should be prioritized over the defined benefit system.

If the UK pension fund moves to 10 %, Lawson added.

Some participants in this meeting suggested that such changes can be a much wider virtue that can benefit both companies, markets and protectors by restoring confidence and supporting evaluation.

But the concept of correction is controversial.

Pension Fund executives say that if they forcibly make their investment goals, they will open insect cans and cut trust obligations to secure the best profits for investors.

The pension fund is expected to sign a voluntary small size this month, and it is expected to sign the update of the Mansion House Compact in 2023 according to the last conservative government to invest 10 %in private assets by the end of 10 years, depending on the last conservative government.

suggestion

But the FT understands that there is no specification to invest in listed stocks.

Former Prime Minister Jeremy Hunt considers his obligations, but has not introduced policies before the election for the past few years. Rachel Reeves did not exclude this idea, but the ministers were hesitant.

Mel Stride, a shadow prime minister, said the idea was in despair.

The fund manager of this meeting is a veteran stockter like Michael Stizny, a British stock director of Newton Investment Management, David Cumming, Schroders' Andy Brough and M & G Investments. Included.

A person who is close to a national employment savings trust on the UKS's largest definition donation pension system supported by the government added that priorities invested in the best way for members, but the fund was revealed to invest in the UK.

NEST, which manages more than 5 billion people, said about 1.75 %of its assets were invested in British stocks at the end of March. Liz Fernando, the chief investor of NEST, told the FT that all Nests partner managers are actively encouraging to find British assets.

A government spokesman said the ministers are trying to access the finance they need to grow. The spokesman added:

The final report of pension investment review will soon be announced, which will consider how to guarantee the UK's unlocking investment benefits.

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