General positivity about Europe’s financial sector is not expected to last long, according to two asset managers, who have warned that banks might not be the best investment option over a longer period.

“I can put my equity money into better companies where I get a better return, so I am quite happy to leave the banks … It’s a consensus trade and certainly in Europe if they were fixed we wouldn’t have negative interest rates, we wouldn’t have the dovish ECB (European Central Bank) that we have,” Neil Dwane, chief investment officer equity Europe at Allianz Global Investors, told CNBC Monday.

There are three main factors affecting the attractiveness of European banks, according to analysts: They are late in the cycle compared to U.S. banks, they have yet to deal with legacy issues from the crisis, and the ECB is still in a state of accommodative policy, which limits banks’ returns.

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