After revealing his plan to retire from running Fidelity Worldwide Investment’s thus far unimpressive China Special Situations trust, Anthony Bolton voiced regrets last week that his swansong in Hong Kong has upset his investors.
Loyalists took a bet that Mr Bolton would fare as well in Asia as he did overseeing Fidelity’s UK-focused Special Situations fund, which beat the market by an average of six percentage points in the 28 years he managed it. But his attempts to take on China look a failure so far, with the China fund down 11 per cent since its celebrated launch in 2010.
“Obviously, I’m very disappointed that the China fund hasn’t been rewarding for investors,” he says.