Neptune's MacLennan: Why we cannot avoid banks any longer

Scott MacLennan, manager of the Neptune UK Special Situations Fund, has upped his banking exposure and said it is increasingly difficult to ignore the investment case for the sector at home and abroad.

MacLennan (pictured) has recently increased exposure to Barclays from 1.5% to 1.7% in the Neptune UK Special Situations fund as seeks to make his mark on the portfolio. The bank is a recent addition to the fund, a position having been initiated in April this year - the point at which MacLennan took over the top-performing portfolio from Alex Breese, who left to join Schroders' rejigged UK equity team. The purchase represents the fund's first foray into UK domestic banks since the crisis; for MacLennan, it is becoming harder to ignore the opportunities now presented by banks and other ...