M&G's Tom Dobell has boosted BP to the largest position in his £5.35bn Recovery fund, believing its recent decline represents a rare opportunity to invest in one of the UK's leading companies.
Tineke Frikkee, manager of the £2.52bn Newton Higher Income fund, expects BP to resume dividend payments as early as February next year.
UK equity income fund managers have made a strong move into integrated energy company Centrica after shifting out of BP on the suspension of its dividend.
Troubled oil giant BP will restore dividends next year at 65% below its previous payout level, derivative prices show.