Coutts is preparing to sell £2.7bn of UK equities in a major ‘recalibration’ of two fund ranges, dealing another blow to the British stock market.
The wealth manager will sell the stocks from two fund ranges, Coutts Managed and Personal Portfolio, which house a combined £13.6bn.
In the two largest, the £4.1bn Coutts Managed Ambitious and £3.8bn Coutts Managed Balanced funds, more than £1.5bn of UK shares are set to be sold as UK exposure is slashed, from 25% to 2.6%, and 17.8% to 1.9% respectively.
