Successful fund manager says insurer stocks undervalued
Jupiter Financial Opportunities fund manager Philip Gibbs says some insurance stocks look historically cheap, according to Citywire.
It quotes him saying: “Despite the poor economic backdrop, some opportunities for investors remain. Valuations appear cheap, for example, in some parts of the insurance sector where companies are not far from or at discounts to their net asset values. as valuations continue to look cheap.”
His fund posted a return of 7.25% during 2008 against the FTSE Financials index return of -47.9% over the same period.
