The past three years have been a tumultuous time for the financials sector, which has seen a phase of deleveraging, rights issues and balance sheet repair which continues to this day.
Top managers spy high yield opportunities as European Central Bank's liquidity injections transform banks' refinancing operations.
Barings' multi-asset team has bought £350m in Italian government bonds in the expectation European banks will use the ECB's Long Term Recovery Organisation (LTRO) to buy government debt.