Feature article: Latest ONS survey: steady as she goes…and ignore retail investors at your peril The ONS (Office for National Statistics) has been charting the beneficial ownership of UK-quoted companies periodically since the early 1960s. The latest paper was published in March 2022, and considers the data for December 2020. At December 2020, “Rest of the World” investors owned 56.3% of the market, a further growth since the last survey, while UK institutions’ ownership edged up to 31.6%. Retail investors’ share fell to 12%, but they remain the second-largest holders of the non-FTSE 100 and AIM. This paper proves that they are even more important to liquidity, and provides some practical suggestions for managements to engage with this investor audience.