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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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aegon UK Equity GBP A Acc  
Artemis Global Income R Acc1.48 GBP-0.01Rating
ASI UK High Income Equity R Inc71.76 GBP0.04Rating
Barclays PLC167.12 GBP0.00Rating
BlackRock UK Income A Acc1,757.05 GBP0.52Rating
Franklin UK Equity Income A Inc2.34 GBP0.28Rating
HSBC Holdings PLC401.60 GBP0.00Rating
Invesco UK Opports (UK) (Acc)705.67 GBP0.17Rating
JOHCM UK Equity Income A GBP Acc4.03 GBP-0.05Rating
JPM UK Dynamic A Net Acc2.06 GBP0.00Rating
Jupiter UK Special Situations L Inc189.74 GBP-0.03Rating
Lloyds Banking Group PLC45.89 GBP0.00Rating
NatWest Group PLC199.10 GBP0.00Rating
Ninety One UK Special Situations A Acc1,292.78 GBP-0.10Rating
Schroder Income Acc94.71 GBP-0.15Rating
Schroder Recovery A Acc224.30 GBP-0.31Rating
Schroder UK Equity Acc25.41 GBP0.52Rating
Standard Chartered PLC431.70 GBP0.00Rating

About Author

Karen Kwok

Karen Kwok  is a Reporter for Morningstar.co.uk

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