** UK-focused Cavendish AM fund manager Paul Mumford goesagainst the crowd & snaps up shares in small E&Ps as well asblue-chip defence cos & insurer Prudential to takeadvantage of cheaper valuations presented by market meltdown
** Shares in EnQuest, Ithaca &Excite which, with fellow commodity stocks, amonghardest hit in sell-off, bought by Mumford as recently as thismorning (PM also been adding to holdings in trio in last months)
** PM on Monday bought more shares in aircraft-brakingmanufacturer Meggitt & larger aerospace peerRolls-Royce (both of which are subject to M&Aspeculation); down 8% & 9% respectively in 4 days to Monday'sclose
** PM also recently (Aug 20) bought shares in insurerPrudential in the wake of forecast-beating H1 earnings;reckons stock represents "fairly good value"
** PM says given scale of Monday's sell-off sparked by Chinaworries -- FTSE 100 down 4.7% -- he invested his own ISAmoney into the Cavendish Opportunities fund which he runs (stockmarkets have since recovered ) (RM: tricia.wright1.thomsonreuters.com@reuters.net)