UK pension funds are net sellers of UK equities
UK pension funds have been net sellers of UK equities over the last four quarters to the tune of almost # 7bn, while long-term life assurance companies and investment and unit trusts have been net buyers, according to the Office for National Statistics. The much-criticised bearish stance adopted by PDFM, the fund management arm of UBS, is believed to be partly responsible, although a spokeswoman said other pension funds have also been sellers on the UK stock market.