Doing well despite ex-divividend!, page-12

Hell,

Agree with you re above.

But other factors have been at work too;

1) With interest rates low insto's are overweight banks as the percieve them as a substitute for bonds/fixed interest.
ie. Safe investments with attractive yields.
2) With the higher profile of ASX leading stocks in MSCI at expense of Asia (Japanese Banks) foriegn ownership has increased marginally,with this has come a rerating as oversea's investors historically rate bank's at higher PE's than the Aust. insto's.
3) With the increasing Aussie Dollar if interest rates don't increase they could benefit greatly from currency play for global fund managers.
(This scenario was whispered into my ear the other night.)

I got out of banks far too early and left a lot of money on the table. You seem to have nailed it, Well done.

Rob.