Causer: 'Bank debt has not looked this attractive since 2012'

Added to CoCos on price weakness

Invesco Perpetual's co-head of fixed interest Paul Causer has called the volatility in the bank debt market the best opportunity since early 2012 and has been adding to CoCos on price weakness.

The co-manager of the £138m Global Financial Capital fund, alongside Paul Read and deputy manager Julien Eberhardt, has dismissed fears the world is entering another banking crisis, arguing institutions are in much better shape than they were in 2011. Confidence in the European banking sector has been hit by a mixed reporting season, with full-year losses at Deutsche Bank and Credit Suisse, weakness in the Italian banking sector and a "clumsy bail-in" of Novo Banco. CoCos: Too easy to ignore the risks? As a result, the Euro Stoxx Banks index is down 30% since the start of the year t...