Bolton tips UK bank rights issues

Anthony Bolton has said he would be snapping up rights issues from troubled UK banks if he was still ...

Anthony Bolton has said he would be snapping up rights issues from troubled UK banks if he was still running money. Speaking at a Morningstar conference last week, the former Fidelity Special Situations manager outlined a characteristically contrarian view of the banking sector. “Many of the financial shares look cheap against history and I would be buying the rights issues,” he said. “I see all of the concerns but those have been there for a while anyway.” While liquidity is improving, Bolton believes banks will continue to feel aftershocks so contrarian bets may not reward immediatel...