Top fund mangers’ long-term worries sound correct as labour practices are only likely to rise further up the political agenda
A few refusenik fund managers, nervous about the (non) employment rights of Deliveroo’s riders, probably won’t derail the food delivery firm’s £8bn-ish flotation. The world is awash with money chasing IPOs with vague tech credentials.
But the concerns of Aviva Investors, Aberdeen Standard Investments and BMO Global Asset Management won’t be allayed by a read of Deliveroo’s less-than-informative prospectus. What, for example, do the self-employed riders earn in practice? If they’re getting well above the minimum wage, concerns about lack of sick pay, paid holiday and guaranteed income may melt away.
