European equities managed a blistering performance in 2023, with the FTSE Europe ex UK index returning nearly 15 per cent in sterling terms.
That, however, was not enough to overcome a deep aversion UK investors have long had towards the region. Investment Association data shows that UK retail investors dragged a net £2.5bn out of open-ended European equity funds over the first 11 months of 2023. That's in line with a broader trend: the sector hasn't seen a net inflow for a calendar year since 2017.
What might change this? The success of some of its most prominent companies, perhaps: anti-obesity drug maker Novo Nordisk (DN:NOVO.B) has seen its shares surge in the past year, pushing even higher at the time of writing thanks to a better-than-expected trading update.