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Swip bond duo: it's been fantastic but equities likely to win battle now
by Annabelle Williams on Nov 15, 2012 at 07:00
He is overweight financials with a bias towards life companies, as he argues these have been unfairly tarred with the same brush as banks.
‘We still think there is a lot of value there. When you see them trading in the market you would sometimes think they are banks because they are tied together,’ he said, adding that many insurers had made huge strides in improving operational aspects of the business such as underwriting cash on balance sheets.
‘We prefer insurance as our main overweight but we think if spreads are going to push in further it will be the financial sector that pushes those on.’
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