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Our History

The Investor Forum has been developed by industry practitioners with the core objective of creating long-term value.

In 2011, at the request of the Rt Hon Dr Vince Cable, Secretary of State for Business, Innovation and Skills, the UK Government commissioned a review of UK equity markets to be undertaken by the economist Prof. John Kay. In July 2012, the Final Report of his Review was published.

The Kay Review

Kay Review obstacles to long-term engagement:

  • A decline of trust and misalignment of incentives throughout the equity investment chain.
  • Fragmentation has reduced the incentives for engagement and the level of control.
  • Internationalisation of ownership with 54% of UK market now owned by international investors.
  • Perceived regulatory barriers inhibit collective engagement.
  • A narrow engagement focus has crowded out discussion on fundamental drivers of long-term strategy and operational execution.

Taken together, this has contributed to an industry structure which too often favours exit over voice.

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