The Big Question: Have you been adding to banks during recent volatility?

Kevin Lilley, manager, Old Mutual European Equity fund     Increasing exposure I have been investing in European banks and have been progressively raising the position through the course of this year. My view is the long-term refinancing operation of the European Central Bank has dealt with the liquidity fears that overhung the sector. Levels of disclosure have improved significantly due to the bank stress tests of last summer, while the majority of banks have meaningfully increased their capital ratios. Last month, the valuation of the eurozone banks hit a price-to-book rat...