UK managers add to miners on back of EM growth

UK managers have been ramping up their mining exposure, pointing to demand in emerging markets which could lift the sector's share prices even if the West experiences a double-dip recession.

Around two-thirds of the funds in the UK All Companies sector are underweight or have no exposure to miners but fund managers including Phil Doel at F&C, Gartmore's Leigh Himsworth and Richard Buxton at Schroders have recently added to their mining positions. Jupiter Primadona Growth trust duo Richard Curling and Derek Pound were recently reported to be investing in the mining sector, believing it to be undervalued, while SVM's Colin McLean has more than double the FTSE All Share weighting to miners on his UK Growth fund. This comes despite brokers Citigroup and Morgan Stanley both re...