Fund manager Nick Train said the UK is the 'backwater' of global equitiesWhen Nick Train recently said the UK was a ‘backwater’ of global markets, he was merely expressing a long-held belief among investors. And even after a strong start to 2023, following a year in which the FTSE outperformed most other markets, UK shares remain unloved. The UK market has been described as the 'backwater' of global equities after years of underperformanceWhy is the UK market so unloved? And despite being a largely UK focussed fund manager, Train defended the funds for cutting their exposure to London-listed stocks. The UK market’s period of underperformance occurred in an ultra low-rate environment in which central banks kept rates near zero.

Source: Daily Mail April 13, 2023 20:39 UTC