View more on these topics

Faltering start for Bolton’s China fund

Anthony Bolton’s Fidelity China special situations fund lagged its MSCI benchmark over its debut two months in net asset value terms, although its share price outperformed.

From the launch of the fund on April 19 to June 30, the investment trust saw its NAV fall by 5.38 per cent while the share price declined by 1.25 per cent compared with a 3.48 per cent drop in the MSCI index.

The trust has consistently traded at a premium to NAV since launch, rising from 5.41 per cent at the end of June to 7.1 per cent on 18 August.

Bolton currently has just over 15 per cent gearing, with his biggest sector positions in financials at almost a third of assets, 20.7 per cent in consumer discretionary and 11.5 per cent in telecom services.

His biggest holdings at the end of June were China Mobile and the Industrial and Commercial Banks of China, both at 6.3 per cent.

Chelsea Financial Services managing director Darius McDermott says: “We have had few enquiries since launch on the product but the fact is that China is a growth market in the long term and Anthony Bolton has a fantastic record of being a great stockpicker.”


Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]


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