What are diversified financials?
They make up some 30 percent in the portfolio. A: There is a mix of companies in there. For example, companies which have both banking and insurance, mortgage lender Fannie Mae, and credit card company Amex, get classified under this. Basically, firms which are not pure insurance or pure banks. Q: What about insurance companies? What sorts do you like? A: There is a huge range of insurance companies. Generally we focus on companies that concentrate on the long-term savings market, like AIG, ING and Zurich, which have a bigger part of their business in life insurance and savings. Q: What about real estate companies? That’s the odd one out in your portfolio. A: The reason we include real estate companies in here is that they are driven by the same factors as financial services companies. And…..also a lot of the global benchmarks, for example, the MSCI global financial services benchmark, they classify property companies under the financial services index. That’s why we have also includ
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