Charles Hall, an analyst at stockbroker Peel Hunt, said Coutts’ decision should be a “call to arms” for the Government to shake-up policy.
He said: “It may be fine for the fund but it’s pretty disastrous for the UK. What we are consistently doing is allowing capital that was invested in the UK to go and invest in overseas companies, which is one of the reasons why the valuations on our companies are depressed.
“We as a country have a very free market laissez faire approach to our capital markets and this is now turning into a problem.”
Mr Hall added that Coutts was not “unpatriotic” for pulling the funds.
He said: “They’re not paid to be patriotic. People who’ve got their money in Coutts want to have some performance.
“It’s just a reflection of what is happening and a call to arms for the Government.”
Edison Group executive director Neil Shah said: “Coutts’ decision is…
