Geffen: Banks' outperformance caught me by surprise

Natalie Kenway
clock • 2 min read

Neptune founder Robin Geffen has blamed an underweight to financials for the recent poor performance of the £922m Neptune Income fund.

The veteran investor's popular Income fund is one of the worst performers in the sector over the last 12 months, returning 11.9% to 1 February, behind the sector average return of 16.9%. That leaves it ranked 88 out of 96 funds, according to Morningstar. Geffen said the underperformance had in part been because of his underweight in banks, particularly in the UK where he had no exposure. “The top performing sector in the FTSE 100 was financials and the three UK domestic banks, RBS, Lloyds and Barclays, finished in the top ten performing stocks," he said. Geffen said he was surpr...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

7IM's Ben Kumar: When behavioural biases are not all they seem

7IM's Ben Kumar: When behavioural biases are not all they seem

Investment identity more important

Ben Kumar
clock 02 July 2025 • 3 min read
Aegon AM launches UK-domiciled global income fund

Aegon AM launches UK-domiciled global income fund

In response to client demand

clock 27 June 2025 • 1 min read
CCLA's Charlotte Ryland and Joe Hawkes: How to position for the end of the 90-day tariff pause

CCLA's Charlotte Ryland and Joe Hawkes: How to position for the end of the 90-day tariff pause

Focus on quality

Charlotte Ryland and Joe Hawkes
clock 26 June 2025 • 4 min read
Trustpilot