Invesco Perpetual's CIO: The sectors to back for 'stand-out' returns

Financials and oil stocks favoured

Invesco Perpetual's chief investment officer Nick Mustoe has named financials and oil as his two "most attractive stand-out sectors" to invest in for the long term.

Although many fund managers have backed the financials sector throughout its recovery since the global crisis, very few have chosen to back oil companies, particularly during the recent volatility and a period of weaker commodity prices. However, Mustoe (pictured) said going against the consensus is a "huge opportunity" for the group's global equity funds. "The oil sector is at a very interesting phase. Perversely, the lower oil price is actually more likely to give us a better return as shareholders than a high oil price, because it is forcing companies to actually do the right thing...