A third quarter 2018 survey shows 21% of institutions are thinking about increasing stakes in UK assets, up from 13% in the second quarter, according to State Street. The equivalent figure was 16% for the third quarter of 2017, suggesting investors in increasing numbers are willing to bat back Brexit worries.

However, this still implies barely a fifth of institutions are confident enough in UK economic prospects to increase exposure.

‘The story of Brexit so far is that fears of economic disruption and capital flight have been unfounded and investors have been willing to give the UK the benefit the doubt,’ says Michael Metcalfe, head of global macro strategy at State Street Global Markets.

The UK’s FTSE All Share index has underperformed several leading global indices this year, including both the S&P 500 and the MSCI World Index. (SF)

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