NatWest-owned Coutts is facing backlash after the private bank announced plans to move around £2bn worth of client funds out of the UK and into global funds.
The portfolio allocation changes will target six Coutts portfolios, with combined assets under management of £9.8bn split across 62% equities and 38% bonds. Broker Peel Hunt has estimated that the largest asset transfers will affect the Ambitious and Balanced funds, with £928m and £612m pulled out of UK stocks respectively. The Managed Equity portfolio will also face high levels of UK divestment, with £227m worth of outflows, while the Adventurous fund, Coutts' highest risk strategy with 90% invested in equities, is expected to recalibrate £89m away from the market. UK investors a...
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