Investors would be "foolish" to believe the recent writedowns by UBS and Deutsche Bank are "the beginning of the end of the subprime crisis", according to Jeremy Tigue, manager of the F&C Investment Trust.
The "dirty laundry" from the credit crunch has only just been "put out to air", he says.
In a recent release, Tigue warned investors to expect more writedowns in the next few weeks, notwithstanding the positive news from Lehman Brothers and UBS in raising funds through rights issues.
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The week on Risk.net, July 7-13, 2018Receive this by email