JOHCM's Savvides blames Brexit for big banks' drag on £1bn UK Dynamic fund
Poor performance from Barclays and Lloyds last month
Alex Savvides of JOHCM
Alex Savvides, co-manager of the £1.1bn JOHCM UK Dynamic fund, has said Barclays and Lloyds Banking Group are suffering from the potential negative effects of a hard Brexit, with both banks dragging on the fund's performance in August.
Savvides, who developed the fund and has run it for the past decade, attributed part of the fund's underperformance from stock selection to high conviction holdings Barclays and Lloyds (a top ten holding...
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