Will you hold or fold on Europe's banks?

Lee Freeman-Shor, Portfolio Manager for Skandia’s Dublin-based European Best Ideas Fund says, the question on everyone’s mind now is, “Should they avoid investing in European banks?” In Freeman-Shor’s fund, he confirms that while Skandia continues to run a significantly underweight position in banks, the fund does own both BNP Paribas and Intesa Sanpaolo both of which Freeman-Shor’s confirms will continued to be held despite recent events in Cyprus. “Quite simply, these companies are seen as national champions that are simply too cheap. For example, while BNP Paribas is up 64% from it...