Investors pull £65bn out of UK in two months


Investors have pulled £65bn out of the UK in March and April as market uncertainty around the upcoming Brexit vote rises, Bank of England figures show.

The BoE says the money was either taken out of the country or converted into other currencies in the two months to April, the Telegraph reports.

The rate of outflows was the highest recorded since early 2009.

In March alone £59bn was pulled from UK assets and currency and a total of £77bn was withdrawn in the half year to April, according to the BoE numbers.

A number of fund managers have already started to Brexit-proof their portfolios since the start of the year, repositioning away from sterling assets and transferring part of their investments away from the UK.

Earlier this week, sterling volatility hit crisis levels surging 22 per cent as an online YouGov poll showed almost half of 3,500 Britons polled would opt for a leave vote.

The EU referendum will be held in less than three weeks, on 23rd June.