Profit in Asian exposure despite consumer malaise

While fund managers are cautious on the UK financial sector, many believe there is profit to be foun...

While fund managers are cautious on the UK financial sector, many believe there is profit to be found in companies with exposure to Asia. Errol Francis, manager of the Credit Suisse Growth & Income fund, says banks with exposure to Asia are reducing the risk they would otherwise have from the UK. "As a result, banks with exposure to Asia such as Standard Chartered and HSBC have outperformed the sector," he says. Francis believes banks are extremely cheap at the moment, however, there is a nervous atmosphere as analysts downgrade their forecasts. "UK financials have not been doing too wel...