Fund manager Anthony Bolton has failed to secure full backing for his China investment trust after a lukewarm reception from some institutional investors.
Mr Bolton had been seeking to raise up to £650m for a new Fidelity fund investing in China, in one of the most hotly anticipated fund launches of recent years.
Fidelity said yesterday that the China Special Situations fund would launch on the stock market on April 19 with £460m - just over two-thirds of the amount it had aimed to raise.
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