The Ledger
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Hoggett: Most UK companies listing in the US perform poorly or delist
“In the last 10 years, only 20 UK companies have listed in the US that have raised over a hundred million. Of those, nine have already delisted, only four are trading up and the rest are trading down by over 80%.”
Hoggett: UK stamp duty perversely taxes domestic stock investments over foreign ones
“Stamp duty is a perversity in the UK. We charge people to invest in UK stocks, but we don't charge them to invest in US stocks or European stocks.”
Hoggett: FTSE 100 daily free-float turnover exceeds S&P 500 and NASDAQ
“The percentage of the company's free float that is turning over in a given day is higher on the FTSE 100 than it is on the S&P 500 or the NASDAQ.”
Hoggett: Yahoo Finance underreports London market liquidity by over 3x
“So if you go to Yahoo Finance and look at the liquidity in London versus liquidity in the US, it's actually wrong. Last time we checked it by a factor of over three.”
Hoggett: Only 1% of Arm's post-IPO investors were UK-based
“In the first period of time after they listed only one percent of the investor base in Arm, which is a great British company based in Cambridge, coming out of our ecosystem, was owned by UK investors. Not one of our major pension funds had them as one of their…”
Hoggett: Canadian and Australian pension funds outperform UK funds despite higher fees
“So if you look at, say, the performance of Canadian and Australian pension funds, they tend to pay higher fees than the fees that are being paid by UK pension funds, but they make higher real returns.”
Hoggett: Apple surpassed FTSE 100 market cap in summer 2020
“And in the summer of 2020, Apple was worth more than the FTSE 100 for the first time.”
Hoggett: UK creates more unicorns than any country besides US and China
“We create more unicorns than anywhere outside the US and China, and we're a world leading capital market by any measure.”
Hoggett: The UK holds the world's second-largest pool of institutional capital
“We have the second largest pool of institutional capital in the world.”
Hoggett: Removing UK domestic investment tax breaks depressed national investment
“So we used to have tax breaks to invest in the UK. We took them all away and then wondered why people didn't invest as much in the UK. Other countries do, don't do that.”
Hoggett: LSE briefly beat Nasdaq as world's top market by capital raised
“Capital market, you know, and this is the thing that is sort of forgotten in, for most of the first few weeks of January, we were the largest equity capital market in the world by capital raised, ahead of NASDAQ.”
Hoggett: UK capital market ranks third globally, trailing only US and India
“We are the, I mean, as of today, if you take the 20, 24, 25 numbers by total capital raised, the only equity capital market countries in the world that are bigger than us are the US and India. Everywhere else is behind us. We're the only European market in the…”