Equity fund managers across the board have been dealt a blow as popular holding Standard Chartered saw its shares fall almost 25% today as its US banking licence came under threat.
Standard Chartered is one of the top twenty most popular stocks held in a number of UK retail funds run by leading investors including Richard Buxton, Phil Doel and Devan Kaloo. Buxton, Schroders' head of UK equities, has been a longtime backer of the stock within his £2.7bn UK Alpha Plus fund. The bank has been among the top five contributors to the fund's performance over the last 10 years, and has been in the portfolio consistently since the fund launched in 2002. As well as Standard Chartered, Buxton holds Lloyds, Barclays, and Royal Bank of Scotland, which together total 8.3% ...
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