Unilever should sell its underperforming Flora margarines business and buy more personal care companies, according to an investor survey that includes some of the Anglo-Dutch company's biggest shareholders.

The survey of 100 investors by Bernstein Research showed that while most agree with the strategy set by Paul Polman, chief executive, many were frustrated with a perceived loss of momentum at the FTSE 100 company in executing the strategy.

Bernstein, an investment bank, asks investors to list three or four points about a consumer goods company it selects each year for the exercise and said its choice of Unilever prompted its biggest response to date. There were 73 respondents, balanced between long-term and hedge fund investors.

Andrew Wood, analyst at Bernstein, commented on the unusually high number of references by name to Mr Polman.

“It would appear that in the minds of investors Polman is becoming almost synonymous with Unilever,” said Mr Wood. “We were very struck at just how polarised investor opinion is, ranging from strong criticism to strongly positive views.” – (Copyright The Financial Times Ltd 2015)