Investing Battle of the banks: Do investors prefer AIB or Bank of Ireland?
Data from Morningstar, an investment research platform, there is €3.9 billion invested in Bank of Ireland through institutional funds and €2.8 billion invested in AIB. Similarly, there are 1,141 funds holding Bank of Ireland shares, while 35 funds have the stock within their top ten holdings, signifying a big bet. AIB is not far behind, with 1,124 funds allocating capital to the bank, while 32 hold it in their top ten.
Share price movements echo that story as AIB’s shares are up 11.3 per cent and Bank of Ireland’s are up just 3.1 per cent since the start of this year. Over the last 12 months, AIB is up 4.4 per cent, while Bank of Ireland is down more than 17 per cent That feeling is echoed by Alex Wright, a portfolio manager at Fidelity, who pointed to the bank’s mortgage business, as well as its SME and corporate lending book to justify the company being the top holding in his Fidelity Special Values trust at the end of August.
In December last year the bank said it was ending its partnership with the British motoring service AA and trimmed its product range offered through the UK post office. The annual results said the bank is focussing on “value over volume” and targeting “specific market segments” where it has a competitive advantage.
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