Bolton China fund IPO fails to hit £630m target
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Anthony Bolton’s newly launched Fidelity China special situations trust hasraised £460m in its initial public offering, failing to meet the £630m it
initially targeted.
Fidelity International says the capital raised demonstrates investor confidence in Asia and the China growth story, as well as support for Bolton’s return to portfolio management and his contrarian approach.
“Fidelity China Special Situations will be the largest emerging markets equity fund new issue since 1990 as well as the largest China equity fund
listed in the UK,” Bolton says in a statement.
Minimum investment in the fund is £2,500 with an annual management charge of 1.5 per cent and a performance fee. It is only available for lump sum investments.
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