Time to snap up miners after sell-off?

Top performing UK fund managers including Ed Legget at Standard Life Investments and PSigma's Bill Mott have been buying up mining stocks in recent weeks following a major market sell-off.

The mining sector has been one of the main victims of the recent equity market downturn, with share prices diving by around a quarter across a sector which now constitutes 12% of the FTSE 100. The big four – BHP Billiton, Xstrata, Rio Tinto and Anglo American – have lost an average of 24.9% in the past three months. However, managers are now upping their weightings to the highly volatile sector, arguing share prices have fallen too far considering the outlook for global growth remains positive. Legget, running the £395m SLI UK Equity Unconstrained fund, has been topping up position...