Train eyes financial stocks

FGIT manager to rethink exposure to sector, particularly if consumer debt continues to rise

Finsbury Growth & Income Trust (FGIT) manager Nick Train is keeping a close eye on his financial stocks in anticipation of rising consumer debt problems. Train, who has almost his entire portfolio invested in financial services, consumer staples and media-content names, believes his key beverage, brewer and confectionary stocks are safe from a consumer slowdown but companies such as banks could suffer from bad debts. He added: "In particular, if property prices fall further we anticipate we would want to reconsider this exposure." Financial services holdings, including retail distributio...