Bank holdings boost F&C UK Opportunities portfolio

Manager Doel returns 1.5% over three months compared to sector average of -4.1%

F&C UK Opportunities fund manager Phil Doel has seen performance pick up in recent months through buying HSBC and Standard Chartered. He says the strong prospects for the more Asia-focused banks versus their Western counterparts has prompted a jump in weightings, which currently make up 3.8% and 4% of the portfolio respectively. Over three months to 30 March 2009, the portfolio has generated a return of 1.5%, compared to a 4.1% decline for the IMA All Companies sector according to Morningstar. Doel says: "I think the banking markets in Asia look less troubled than the rest of Europe b...