Henderson: ‘European Banks Aren’t That Bad’

Ollie Beckett of TR European Growth Trust explains why he is still optimistic about European financial stocks, despite problems with Deutsche Bank

Karen Kwok 12 October, 2016 | 2:20PM
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Germany’s biggest lender Deutsche Bank (DBK) is on investors’ radars once again - but for all the wrong reasons. Its well-publicised problems have once against raised questions regarding the health of the European banking system. But according to Ollie Beckett, fund manager of the TR European Growth Trust (TRG), this presents an opportunity to buy European financial stocks.

“European banks aren’t that bad.” He said problems with Deutsche Bank have pulled down shares prices of European banks and other financials, but there is still value to be had in many of these stocks.

“Nobody wants to touch the financial sector at present,” he said. “When everybody is underweight in European financials and dislikes them, that’s where the opportunity is.”

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Aareal Bank AG27.54 EUR0.15
Deutsche Bank AG11.41 EUR3.16Rating
TR European Growth Ord1,450.00 GBX1.05Rating
Van Lanschot Kempen NV24.15 EUR1.26

About Author

Karen Kwok

Karen Kwok  is a Reporter for Morningstar.co.uk