Shah 'optimistic' despite worst ever FTSE year

Anthony Bolton's Fidelity Special Situations successor Sanjeev Shah has increased exposure to banking...

Anthony Bolton's Fidelity Special Situations successor Sanjeev Shah has increased exposure to banking stocks despite the sector playing a significant role in the worst ever year for the FTSE 100. Shah says he has bought into a "basket of banking stocks" to spread the risk in his vehicle, while adding in the consumer cyclical space. Banking stocks, along with the mining sector, were the hardest hit of FTSE blue-chips in 2008, contributing to the index's 31.3% decline. Fidelity International analysis showed HBOS was the worst performing leading stock, down about 90% over the year, followe...