Some 50 per cent of AIM’s value is in institutional hands, an increase from last year’s 46 per cent. The institutions’ shareholdings are worth £39 billion, as compared to £55.2 billion last year, a reflection of ‘the most arduous stock market conditions seen for decades’, according to a report from GrowthBusiness sister title Growth Company Investor.

BlackRock is the leading institutional investor on AIM by investment value and by number of investments. It holds shares worth £1.5 billion in 162 AIM-quoted companies.

It is followed by Invesco, which controls £970 million, and Artemis with £704 million.

F&C Group, Barclays and AXA are the three most active institutional investors in companies worth less than £5 million, with investments in 23, 22 and 19 such ventures respectively.