Institutions cool on Bolton fund

Fidelity investment veteran Anthony Bolton has failed to reach the £650m fundraising target for his new China vehicle, having garnered £460m from institutional investors by the end of last week. Pensions funds are said to have been concerned at Bolton’s lack of knowledge of Asian markets, together with his inability to speak the language. The fund manager has also yet to be granted a licence to invest in the domestic Chinese A-share market.