F&C's Ted Scott said if UK equities dive a further 5% they will be worth stockpiling, despite the risk of a double-dip recession.
The FTSE 100 has entered bear market territory, having now fallen 20% from recent highs after the index lost as much as 5% in early trading on Tuesday.
Aberdeen Asset Management has seen its asset base grow by 2.5% to £185.8bn as outflows slowed.
Barings' Andrew Cole has slashed the equity weighting on his £28.1m Multi Asset fund by 15% in favour of government bonds as his team becomes increasingly risk averse.
Angelos Damaskos, manager of the £54m Junior Oils Trust, has bucked the trend to move defensive over the summer by increasing his equity exposure by 20%.
Markets look set for another day of falls as investors fear sovereign debt problems in the US and eurozone could prompt another global crisis.
Economist Joe Roseman asks SG strategist Dylan Grice where value lies in the markets
Commodities guru Jim Rogers is sticking with his bullish stance on China, despite a recent wave of negative sentiment and losses from Chinese equities.
Majedie Investments' subsidiary and manager Javelin Capital is set to launch an emerging markets fund in July.