Britannic Asset Management is overweight financials in the UK, Japan and the Far East but significan...
Britannic Asset Management is overweight financials in the UK, Japan and the Far East but significantly underweight the sector in the US, Diamond Lee, joint manager of the Britannic Global Financial Services Fund, says. 'Earnings streams of banks are less volatile in the UK and are less dependent on investment banking and brokerage, which means the UK will see less downgrades in this environment.' Lee is overweight Japan purely as a restructuring exercise. 'We buy financials when they have done terribly and sell when people begin to get excited about them,' he says. 'This can mean we p...
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