It's still a good time to buy financial stocks. So says Philip Gibbs, manager of the Jupiter Financial Opportunities Fund. And to prove it, he's launching another finance-focused fund.
Now, you can ignore a lot of what fund managers say as being mere hype to sell their own products. But Gibbs isn't so easily dismissed. The Jupiter Fund has made a total return of 868% since launch in June 1997, ranking it first out of all 748 unit trusts over that period. And he played the financial crisis well, switching from equities to cash in 2007, because he was worried about high levels of household borrowing in the US and Britain. He was also sharp enough to move most of his investments outside Britain, avoiding the slide in sterling.
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