BUZZ-UK Asset managers: undemanding valuations

** Man Group (LSE: EMG.L - news) top of FTSE 250 index, up 3.8 pct as Credit Suisse (NYSE: CS - news) reinstates coverage with "outperform".

** Bullish sector note says recent market falls present buying opportunity. Cuts Ashmore to "underperform."

** "The sector is now trading at a small discount to its five-year average P/E, with some stocks faring considerably worse. We think there is now a window of opportunity to pick up high-quality names on attractive valuations," broker says.

** Man Group and Schroders CS's top picks: former at discount to peer group while latter has seen its valuation premium narrow this year.

** Man Group's forward EPS growth has outstripped share price since July, CS says market likely to catch up. Chart on sector valuations and Man Group EPS: http://link.reuters.com/taz33w

** Also upgrades Jupiter to "neutral" and Schroders to "outperform". (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)