“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.”
The FDR Framework is the backbone for a 21st century financial system. Under this framework, governments ensure that every market participant has access to all the useful, relevant information in an appropriate, timely manner. Market participants have an incentive to analyze this data because they are responsible for all gains and losses.
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Thursday, June 28, 2012
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:
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