A-rated manager snaps up banks for European fund
Roberto Magnatantini, fund manager at SYZ Asset Management, has significantly increased his holdings in financials as he believes political risk in Europe is receding. Banks now make up 10% of the OYSTER World Opportunities fund having gone from near zero exposure one year ago. Magnatantini explains that, previously, he had a negative view on European banking and was therefore cautious of attractive, low valuations. He now believes there is more certainty, making the recovery of the financial system very likely.