Revealed: The Fund Managers Betting On Banks

Morningstar data reveals more than 10 funds invest in HSBC, Barclays, RBS and Lloyds in their portfolio as this week five major UK banks posted mixed 2016 results 

Karen Kwok 24 February, 2017 | 11:02AM
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This week five major UK banks revealed their 2016 results – to mixed market response. Royal Bank of Scotland (RBS) this morning reported a ninth consecutive year of losses, reporting a £7 billion annual loss. Shares in the bank fell 3% in early-morning trading.

RBS is not the biggest FTSE faller however, as Standard Chartered  (STAN) is down today 5% after disappointing results, while shares of HSBC (HSBA), Barclays (BARC) and Lloyds Banking Group (LLOY) each fell in early trading. Unlike Barclays and Lloyds, which both reported jumps in annual profits, RBS and HSBC posted disappointing earnings this week.

Yesterday, UK equity income fund manager Neil Woodford admitted that US and UK banks were looking more attractive, leading to expectation they may appear in his new Income Focus fund, due to be launched next month.

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Karen Kwok

Karen Kwok  is a Reporter for