Letter: UK plc is short-changed by its fund managers

With reference to the Big Read “Why is the UK stock market so cheap?” (March 7), the City sells out anything for a modest premium. So the most promising companies go under foreign ownership before reaching their prime. It consistently pressures companies to shrink and return cash. And it refuses to back ambitious expansion with capital. There seems to be a belief behind all this that fund managers are better at capital allocation than company directors. The resulting UK plc portfolio and its poor performance suggests otherwise.

Laurence Ormerod
Levens, Cumbria, UK

Letter: UK plc is short-changed by its fund managers
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