§ Mr. WorthingtonTo ask the Chancellor of the Exchequer (1) what percentage and amount of the equities bought on the stock exchange are bought by(a) pension funds, (b) insurance companies and (c) each other type of financial institution; and how these percentages have changed since 1979;
(2) what percentage of shares bought on the stock exchange is bought by (a) financial institutions and (b) individuals.
§ Mr. Nelson[holding answer 26 January 1993]: The amount and percentage of ordinary shares, in terms of market capitalisation, owned in United Kingdom companies listed on the London stock exchange, excluding issues on the unlisted securities market, as at 1 January 1992 are set out in the table.
£ billion Percentage Pension funds 165.0 31.1 Insurance companies 109.7 20.7 Banks 1.1 0.2 Unit trusts 30.4 5.7 Other financial institutions 14.5 2.8 All financial institutions 320.7 60.5 Individuals 104.8 19.8 Unincorporated businesses 1.3 0.2 Non-profit making bodies 11.4 2.2 Public sector 6.8 1.2 Industrial and commercial companies 17.5 3.3 Overseas 67.8 12.8 All sectors 530.2 100.0 Note: Components may not add to totals due to rounding.
Other financial institutions comprise: building societies, unit trusts, securities dealers and other miscellaneous financial institutions. They also include SEPON—the stock exchange account into which shares are placed while in transit between buyer and seller—in 1992, amounting to around £3.1 billion and around 0.6 per cent.
Comparable figures for 1979 are not available, but percentages for 1981, the nearest available year, are as follows:
448W
per cent. Pension Funds 26.7 Insurance Companies 20.5 Banks 0.3 Unit Trusts 3.6 Other Financial institutions 6.8 ALL FINANCIAL INSTITUTIONS 57.9 Individuals 28.2 Unincorporated businesses
per cent. Non-profit making bodies 2.2 Public Sector 3.0 Industrial and commercial companies 5.1 Overseas 3.6 TOTAL 100.0 Further details and information for earlier periods is available in an article "The 1992 Share Register Survey", published in "Economic Trends" No. 466 which is available from the Library.