A leading US investor has started pouring cash into NatWest shares after a notable cut in the government’s shareholding helped to allay fears of state intervention in the bailed-out banking group.
Los Angeles-headquartered Capital Group, which is one of the world’s oldest and largest investment firms, with more than £2.5tn under management, has bought more than £110m worth of NatWest shares, days after the government cut its position, pushing the group into the bank’s top 30 shareholder list.
