Ecclesiastical fund manager: 'UK banks are the last place an investor should be'

The Telegraph interviewed Ecclesiastical fund manager Robin Hepworth.  Ecclesiastical was formed 125 years ago to address the church's financial needs.  His observation about UK banks is presented without further comment:

“We have had very little exposure to UK banks for around five years, and we maintain that call. UK banks are poorly funded and undercapitalised,” he said. “UK banks are the last place an investor should be.”