UK equities
The UK equity market, is a key geographical market and, in our view, a potential source of returns for investors globally.
The opportunity
With thousands of businesses from 60 countries around the world listed in the UK, its stock market remains one of the most exciting choices for investors today. Deep, liquid markets and world-leading regulation, corporate governance and legal and professional services support make UK equities a must-have for any global equity portfolio.
Whether you’re aiming to capture growth from the dynamic small-cap sector, benefit from exciting opportunities offered by innovative mid-cap companies, or gain exposure to internationally-focused, mega-cap stocks in the FTSE 100 Index, we have a range of funds to cover your needs.
Why invest in the UK
Market-leading companies
The UK market is home to some of the world’s leading companies across a range of sectors. As well as providing a wide range of established quality companies, it acts as a vital backdrop for new, innovative companies to thrive.
Diverse sources of return
Global revenues count for around 75% of the earnings of UK-listed companies1, which provides built-in diversification of returns. The UK is also aligned with global megatrends that have the potential to generate rising revenues in an evolving world.
Attractive valuations
Valuations for UK equities are low relative to other developed global markets on a range of metrics. In our view, this offers a compelling entry point for medium to long-term investors. With our expertise in quality growth companies, we believe we are positioned to benefit from companies with solid fundamental returns, secure moats and able management teams.
Our expertise
Credible
Our UK equity team of five portfolio managers has over 100 years combined experience. Their extensive experience as investors in UK companies gives them first-class corporate access , bringing the potential to generate unique insights to help find the best opportunities across the capitalisation scale.
Well-resourced
As well as five experienced portfolio managers and dedicated equity analyst, the team benefits from our broader equity expertise across different sectors. These help to identify thematic opportunities and broad macroeconomic drivers to help inform our long-term investment strategy.
Focused
We take an active, unconstrained, low turnover approach, investing in quality companies with strong balance sheets and good records of capital allocation. Our approach is designed to find companies with long-term capital growth potential from compounding earnings growth, increased coverage, and re-rating potential.
Learn more about our UK equity strategies on our fund centre
Team and expertise
Our London-based UK equity investment team is led by Dan Harlow, along side four specialist portfolio managers. Between them they bring decades of experience in the market and in-depth knowledge of the sector and companies they invest in. Collectively, they manage around £2.2 billion in UK equities.2
The wider team includes:
- 34 Investment professionals
- 8 Traders on the equity trading desk
- 10 Economists providing macroeconomic input
Investment risks
Investments are subject to market fluctuations and other risks inherent to investing in securities. The value of investments and the income they generate may rise or fall and it is possible that investors may not recover their initial investment.
- Equity risk
- Smaller companies risk
- ESG risk
- Stock lending risk
For a complete description and definition of the strategy’s generic and specific risks, please refer to the Prospectus and KIID.
[1] Source: FTSE All-Share as at 31/01/2026.
[2] Source: BNPP AM as at 30/06/2025. Staff years and information about the team for information only.
Important information
Marketing communication. For professional investors only.
This document is directed only at person(s) who have professional experience in matters relating to investments (“relevant persons”). Any investment or investment activity to which this document relates is available only to and will be engaged in only with Professional Clients as defined in the rules of the Financial Conduct Authority. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Past performance or achievement is not indicative of current or future performance. Performance is calculated net of fees unless otherwise stated.
Any views expressed here are those of the author as of the date of publication, based on available information, and subject to change without notice. This material does not constitute investment advice.
Investments are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment. There is no guarantee that the performance objective will be achieved.
Environmental, social and governance (ESG) investment risk: The lack of common or harmonised definitions and labels integrating ESG and sustainability criteria at EU level may result in different approaches by managers when setting ESG objectives. This also means that it may be difficult to compare strategies integrating ESG and sustainability criteria to the extent that the selection and weightings applied to select investments may be based on metrics that may share the same name but have different underlying meanings. In evaluating a security based on the ESG and sustainability criteria, the Investment Manager may also use data sources provided by external ESG research providers. Given the evolving nature of ESG, these data sources may for the time being be incomplete, inaccurate or unavailable. Applying responsible business conduct standards in the investment process may lead to the exclusion of securities of certain issuers. Consequently, (the Sub-Fund’s) performance may at times be better or worse than the performance of relatable funds that do not apply such standards.
Equity strategies may be exposed to other risks defined below:
MARKET RISK: This is a general risk that affects all investments. Price for financial instruments are mainly determined by the financial markets and by the economic development of the issuers, who are themselves affected by the overall situation of the global economy and by the economic and political conditions prevailing in each relevant country
EQUITY RISK: The risks associated with investments in equity (and similar instruments) include significant fluctuations in prices, negative information about the issuer or market and the subordination of a company’s shares to its bonds. Moreover, these fluctuations are often amplified in the short term. the risk that one or more companies suffer a downturn or fail to grow can have a negative impact on the performance of the overall portfolio at a given time. There is no guarantee that investors will see an appreciation in value. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial investment.
INTEREST RATE RISK: The value of an investment may be affected by interest rate fluctuations. Interest rates may be influenced by several elements or events, such as monetary policy, the discount rate, inflation, etc.
CREDIT RISK: This is the risk that may derive from the rating downgrade of a bond issuer to which the strategies are exposed, which may therefore cause the value of the investments to go down. Strategies investing in high-yield bonds present a higher than average risk due to the greater fluctuation of their currency or the quality of the issuer.
LIQUIDITY RISK: This risk arises from the difficulty of selling an asset at a fair market price and at a desired time due to a lack of buyers.
COUNTERPARTY RISK: This risk is associated with the ability of a counterparty in a financial transaction to fulfil its commitments like payment, delivery and reimbursement.
OPERATIONAL AND CUSTODY RISK: Some markets are less regulated than most of the international markets; hence, the services related to custody and liquidation for the strategy in such markets could be more risky.
DERIVATIVES RISK: When investing in over-the-counter or listed derivatives, the fund aims to hedge and/or to leverage the yield of its position. The attention of the investor is drawn to the fact that leverage increases the volatility of the strategy.
CAPITAL RISK: The investments in the funds are subject to market fluctuations and the risks inherent in investments in securities. The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay, the funds described being at risk of capital loss.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) INVESTMENT RISK: The lack of common or harmonized definitions and labels integrating ESG and sustainability criteria at EU level may result in different approaches by managers when setting ESG objectives. This also means that it may be difficult to compare strategies integrating ESG and sustainability criteria to the extent that the selection and weightings applied to select investments may be based on metrics that may share the same name but have different underlying meanings. In evaluating a security based on the ESG and sustainability criteria, the Investment Manager may also use data sources provided by external ESG research providers. Given the evolving nature of ESG, these data sources may for the time being be incomplete, inaccurate or unavailable. Applying responsible business conduct standards in the investment process may lead to the exclusion of securities of certain issuers. Consequently, the strategy’s performance may at times be better or worse than the performance of relatable funds that do not apply such standards.
This is not an exhaustive list of risks. For a full description of risks associated with each fund, please consult a client relationship manager or the global BNP Paribas Asset Management website: staging.bnpparibas-am.co.uk.