UK hedge managers go long on energy stocks but short insurance

UK long/short managers drew on the market's resources stocks as oil broke more new ground in October

The UK equity market finished a volatile and fractious October around 1% higher, despite a mixed market and the emergence of more evidence that economic activity is starting to slow. In the UK, both industrial production and consumer price inflation fell for the third straight month, while private sector employment figures were also weak.

Overall values of UK equities have been somewhat compressed. Paul Findley, manager of Threadneedle's closed Crescendo UK Fund, explains that the difference