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Bolton’s back- adviser reaction

Advisers have given a mixed response to news that fund guru Anthony Bolton is to return to the market to run a new China offering.

Skerritt Consulting head of investment Andrew Merricks says: ‘It would not surprise me if those IFAs thinking about going into China will now do so. He is a good manager but people hold him a little bit in awe. People have seen opportunity in China before Bolton got there although his going there is the seal of approval that China will run and that it is not a bubble.”
 
KS Barrett & Associates proprietor Kim Barrett says: “Anthony Bolton moving into China should not change IFAs investment choices. He is not known for managing an emerging market fund and there are other proven fund managers in this area IFAs can look to.

“If interested IFAs should have been looking at the emerging markets sector ages ago and have made an assessment based on risk profiling not on one fund manager. IFAs should be making own recommendations to clients based on their knowledge not following a fund manager into an area he has previously not been investing in.”

Jonathan Fry and Co director Jonathan Fry says: “I think it is certainly significant in that it reflects the growing interest in China and South East Asia.  It also reflects the fact that an increasing number of investment managers are seeing China, South East Asia, emerging markets as being the areas to be investing in and over the next few years.

“I think it is also the case that investment managers are very much recognising that they need to be taking a global view of investment markets and China is becoming an increasingly important part of that.

“With regards to Anthony Bolton personally, he’s clearly got an outstanding track record in identifying value in investment opportunities and China I would have thought is very much a value story over the next few years in terms of identifying appropriate companies to be investing in.”

Clayden Associates director Daniel Clayden says: “I think having a fund manager with Anthony Bolton’s pedigree managing the fund is obviously going to help people consider Fidelity’s offering. I personally have been recommending an investment in emerging markets as part of an overall portfolio for the last couple of years, not specifically China, but Russia Brazil, and India.

Those nations have got a wealth of natural resources, education, numbers in terms of work force, so they will no doubt be established 50 years up the road, so it makes sense for people to have an element of their portfolio invested within those areas.

What I hope is that people don’t invest in what they don’t understand, where we see a bubble in investments in China, like we’ve seen commercial property bubbles, we’ve seen technology bubbles. “

Candidmoney.com founder Justin Modray says: “The fact Bolton is emerging from semi-retirement to run money again demonstrates just how excited he must be about the medium term investment opportunities in China. And his clear vote of confidence in Chinese markets will, I’m sure, carry weight with both investors and advisers. However, I think it’ll be a while yet before we see China emerge as a mainstream holding in UK investor portfolios because the potential for short term volatility, hence losses, remains very high.
 
“While most IFAs will welcome Bolton’s decision to launch a China fund, there is a question mark over whether he can replicate his superlative UK track record in the region. Although he dipped his toes in the Chinese market while running the Fidelity Special Situations fund, his lack of track record in the region will deter some. But despite this question mark, I certainly wouldn’t bet against him succeeding.”

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  1. Having recommended Anthony Boltons Special Sits fund for many years and being somewhat disappointed on his retiral from fund management I am delighted to see him emerge with this enthusiasm for china I am sure he could have had the pick from Global funds but has focussed on China and to me that is very encouraging. He may be held in awe by some but his past record is second to none and it was him who predicted the bottom of the market in March 09.

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