meaning of paragraphs

Please read:

The ownership of UK plc has changed dramatically in the past four decades. In 1963, individuals owned more than 50 per cent of the market and overseas investors held just 7 per cent. By 2004, just over 14 per cent was owned directly by small shareholders, despite the privatisation programme of the Thatcher years and the demutualisation of building societies and insurers. Foreign holdings soared to nearly a third of the whole market, but the biggest chunk is controlled by City money managers.


What people do not realise, according to the authors of a new book, is that these institutions are simply holding the assets on behalf of ordinary savers - so millions of people hold tiny stakes in companies through their pension funds and endowment plans.

1/ Do individuals mean Britist companies in general or persons in general?

2/ Do City money managers mean the persons who manage the money of the city or the persons who manage the money of the companies city ? If the latter is right, what companies?

3/ These institutions =building societies + insurers.

in companies = in building societies + in insurers.

Am I right?

4/stakes = interests?

5/ Do their pension funds and endowment plans mean the pension funds and endownment plans of these 2 institutions or of people?

6/ I dont understand so millions of people hold tiny stakes in companies through their pension funds and endowment plans.(1)

I think (1) mean: People send their money in either building societies or insurers and have the ownership of some shares. Building societies or insurers receive their money in exchange for shares of ownership then these 2 institutions invest these funds in loans secured by first mortages on homes and will have profits. At the end of each period of time, these 2 institutions devide profits to those who own shares.

So, why through their pension funds and endowment plans

but not through profits of these 2 institutions ?Please explain me.

Thanks

Q