View more on these topics

Bolton stays with fund to 2014

Fidelity China special situations investment trust manager Anthony Bolton is extending his minimum management tenure by a further year.

He will run the £517.9m fund until April 2014, a year later than his original minimum management tenure, which was due to expire in April 2013.

It gives the firm an extra year to find a replacement for Bolton who returned to management with the launch of the investment trust in 2010.

He has come under scrutiny recently over the fund’s performance, which has struggled during the past year with its overweight exposure to healthcare cited as a detractor in the trust’s latest factsheet.

Bolton wrote at the end of February: “Although GDP growth estimates for 2012 are probably still too high, the backdrop for Chinese equities remains pretty favourable with falling inflation and with monetary policy likely to be loosened further in the coming months. Valuations also remain supportive.”

The trust’s share price fell by 13.2 per cent from launch on April 19, 2010 to February 29 this year. Net asset value dropped by 11.2 per cent. The MSCI China index fell by 3 per cent over the same period.


£54bn deficit for council pension schemes

Council pension schemes have a combined deficit of £54bn despite £1 in every £5 of council tax being spent on employer contributions, according to the TaxPayers’ Alliance. A new report from the right-leaning thinktank says the £54bn deficit in 2010/11 was down by 41 per cent from £91bn in 2009/10 but is up on the […]


Chris Cummings: Aifa is in a tragic position

Former Aifa director general Chris Cummings says the IFA trade body is in a “tragic” position and is urging advisers to rally behind the organisation. Aifa made an operating deficit of £194,419 for the year to June 30, 2011. It has seen significant changes in the past 12 months. In February, the Association of Mortgage […]


FSA’s Turner slams “massively negative” shadow banking system

FSA chairman Adair Turner has mounted an attack on the shadow banking system, laying the bulk of the blame for the financial crisis at its door. Presenting the annual Rostov Lecture on International Affairs at John Hopkins University’s School of Advanced International Studies, Turner examined the role of securitisation, shadow banking and the value of […]


Neptune video: Abenomics: the impetus for Japan’s fast-track recovery?

The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.

In the video, Taylor addresses the following:

• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm