OMGI's Meier backs Barclays to clean up its act after 'falling on every banana skin'

Dividends rising again following cut

Laura Dew
clock • 2 min read

Old Mutual Global Investors' Ed Meier has upped his stake in Barclays following Sherborne Investors Management's activist investor Ed Bramson's move to take a significant stake in the bank earlier this year.

Meier, who took over the £182m Old Mutual UK Equity Income fund from Stephen Message at the start of 2017, said he viewed Barclays as a recovery stock after a tough decade since the global financial crisis. The bank has been unloved by many fund managers for its troubled investment banking arm with only one fund in the 86-strong IA UK Equity Income sector holding a larger amount than Meier. However, Meier said the bank has potential, particularly in light of the recent activist attack; Sherborne Investors' Bramson took a £580m stake in the banking giant earlier this year. He said t...

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