Which European sector is LGIM's Launder reconsidering?

Sector seen recent underperformance

Laura Dew
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Gavin Launder, manager at LGIM
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Gavin Launder, manager at LGIM

Gavin Launder, head of European equities at Legal & General Investment Management (LGIM), is considering moving back into European banks, while he has also bought a position in airlines for the first time in two years.

Launder, who manages the £155m L&G European Trust, said the portfolio's lack of exposure to banks had helped him in the fund so far this year. European banks have taken longest to recover from the global...

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