Mundy offloads Lloyds on 'zombie bank' fears
Investec's Alastair Mundy has sold out of Lloyds in his £1.57bn Cautious Managed and £344m UK Special Situations funds on fears the group runs the risk of becoming a ‘zombie bank'.
Mundy, who has held the group at various stages over a number of years, has highlighted a number of potential problems for the retail bank, including a high loan-deposit ratio. "Over the last few years,...
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