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£630M aim for Bolton China fund

Fidelity plans an initial capital-raising of £630m for Anthony Bolton’s China special situations investment trust.

The public offer opens on February 26 and closes on April 5, with admission to the London Stock Exchange and dealing to start on April 19.

Minimum investment is £2,500 and is only be available for lump sum investments. Ann- ual charge is 1.5 per cent. The £630m raising will be split 50-50 between retail and institutional.

The fund will be China-listed and will be able to invest in securities in China and Hong Kong and Chinese companies listed elsewhere. It will be available in a Fidelity Isa in both tax years and will pay 0.5 per cent trail commission within the Isa.

Unicorn Mastertrust investment adviser Peter Walls says: “The tried and tested investment company structure is the most appropriate vehicle for this fund. I think this will be a good issue on a long-term view.”

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