Jupiter's de Blonay and Gibbs turn bullish on Financial Opps

Jupiter's Guy de Blonay and Philip Gibbs have fully invested their £1.04bn Financial Opportunities fund, the most bullish positioning for the entire year.

Gibbs, who was joined by de Blonay on the vehicle at the beginning of June, has been running significant cash weightings at various stages of 2010, including more than 50% at the height of the European debt crisis. However, the managers have become bullish on a number of global financials, particularly institutions in the Far East. “There has been this conflict between the sovereign debt problems in the eurozone and this profit boom we are seeing in a number of companies,” de Blonay said. “We are cautious on the eurozone, but we have been increasing exposure to the developing marke...