Legget returns to miners ahead of EM resurgence

Standard Life Investments' Ed Legget reveals how he has returned over 300% in five years to investors, why he is selling banks, and why now is the right time to return to the mining sector.

Almost every fund in the IMA UK All Companies sector has seen triple-digit gains in the past five years, as markets rallied after the financial crisis. But refusing to play it safe has reaped even richer rewards for some managers, most notably Standard Life Investments’ Ed Legget. The manager of the group’s £787m UK Equity Unconstrained fund is top of the sector over five years, returning 342.4% to 1 November, according to Morningstar, nearly treble the IMA UK All Companies sector average of 116.1%. Legget, who took over the fund in 2008, attributes his success to getting big macro...