Volatility in financial stocks saw Cazenove UK Equity Absolute Return fund lose 1% of performance bu...
Volatility in financial stocks saw Cazenove UK Equity Absolute Return fund lose 1% of performance but manager Tim Russell says he will not be stripping his exposure to the sector. The £85m fund holds long positions in Legal & General -a top 10 holding at 3.2% - and Barclays, which cost 0.65% and 0.4% respectively. L&G recently featured in DigitalLook's top 10 FTSE 350 financial services companies with the biggest losses in market value over two years, with its market value plummeting 65%. Russell says: "On the downside financials started the New Year in a similarly punch drunk state a...
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