Before the Global Financial Crisis, the UK accounted for around 11% of the MSCI World index, but this has since dropped to less than 4%. Despite this, many British wealth manager portfolios still have significant overweight positions in domestic equities.
Last month, Coutts, the private bank owned by state-backed NatWest, faced criticism after informing clients it would be implementing a “fundamental change” to its investment strategy by shifting away from its UK home bias.
The pivot will result in at least £2bn of Coutts’ £43bn portfolio being reallocated to global equities, with a …
Higher UK valuations could further weaken wealth manager home bias
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