Relief for income funds on the way as mining boom comes to an end

Mining has been the matter. While the FTSE All Share fell 4.3% over the six months to 30 April, the ...

Mining has been the matter. While the FTSE All Share fell 4.3% over the six months to 30 April, the average (and miner-less) income fund lost 12.5%. Mining is now 14% of the UK stock market and exerts a very powerful influence on overall market performance. For example, in recent weeks the FTSE 100 has risen by 268 points (5%). But half of this has been accounted for by the appreciation in the price of RTZ alone. It reminds me, painfully, of Keynes: "I would rather be approximately right rather than precisely wrong." Being precisely wrong on the mining sector cost us 5% of missed retu...