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In 1997, UK pension funds invested 53% of their assets in British shares. Roughly how much was left by 2021?

  • A - 35% 52 votes (19.3%)
  • B - 20% 57 votes (21.1%)
  • C - 12% 72 votes (26.7%)
  • D - 6% 89 votes (33.0%)

Total votes: 270

Answer: D — 6%.

Parliamentary research citing New Financial shows the allocation falling from 53% in 1997 to just 6% in 2021. More recent government analysis tells the same story: domestic exposure within defined-contribution funds’ listed-equity investments fell from 40% in 2012 to 8% in 2023.