Neptune's Burnett: We have been waiting for this equity market turning point

Cyclicals beginning to outperform

Neptune Investment Management's Rob Burnett's patience with European banks appears to finally be paying off, as his European Opportunities fund soars to the top of the IA Europe ex UK sector over six months.

The £242m fund has under-performed over the past five years up until earlier this year, with manager Burnett (pictured) steadfastly sticking to his overweight bank position. His fund has around 35.6% (as at 30 September 2016) in financials, compared to 19.1% for the MSCI Europe ex UK benchmark (as at 31 October 2016). Over five years to 21 November, the fund is 80th out of 84 funds in the sector, returning 65% compared to the sector average of 84%. However, the fund has jumped over the past six months to number one out of 106 funds, returning 22.6% versus the peer group's average of 1...