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The withdrawal of the home crowd puts UK companies at the mercy of opportunistic hedge funds when they need to raise cash. The shift in ownership has also coincided with a drop in London capital raising - annually worth 2% of the FTSE 100 market capitalization from 1990 to 2005, but only worth 0.9% from 2006 to 2022.
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The central question is whether corporations’ reluctance to raise money and invest is merely correlated with or is actually caused by withering domestic ownership.
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