Fidelity equity manager, Sanjeev Shah, has told a conference of wealth advisers that the time is right to stay overweight in financial stocks and consumer cyclical stocks, such as the London Stock Exchange, storage company Big Yellow and online poker group Party Gaming.

Shah took over as manager of Fidelity's UK Special Situations fund from star manager Anthony Bolton nearly eighteen months ago. He has maintained the top-quartile status of the fund. In February, he told Wealth Bulletin's sister publication Financial News he had started buying shares in the UK's troubled banks, just before their March rally.