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Activist backs UK banks after upping Lloyds stake

Harris Associates has been actively increasing its allocations to UK stocks amid what it sees as price dislocation

Activist backs UK banks after upping Lloyds stake
Photo: Getty Images

Harris Associates, the US activist investor that now holds 5% in Lloyds Banking Group, is maintaining a bullish stance on the UK's banking sector in spite of Brexit.

Harris grew its stake in Lloyds from 3.63% to just over 5% on September 19, making the UK bank its largest international holding at around £2.3bn.

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