Fidelity fund guru Anthony Bolton is set to retire in April 2014, when he will be replaced by Dale Nicholls.
The Board of Fidelity China Special Situations PLC ("the Company") announces today that Anthony Bolton will be retiring as Portfolio Manager of the Company on 31 March 2014. Mr Bolton will be succeeded by Dale Nicholls who will assume full responsibility for the portfolio of the Company on 1 April 2014.
Bolton took the position in 2010, having reliqunished leadership of the Fidelty International Special Solutions fund in 2007.
Jason Hollands of Bestinvest:
There is little doubt that Anthony Bolton is one of the most successful UK fund managers of the last thirty years, so the announcement of his retirement next year marks the end to a glittering career.
His stellar track record was of course built investing in the UK stock market over 28 years, principally via the Fidelity Special Situations fund from 1979 to 2007, a period over which he outperformed the market many times over.
Despite this we at Bestinvest were cautious about the launch of Fidelity China Special Situations in 2010 believing that talent and experience in a developed market might not automatically carry across to stock picking in China.
In announcing Dale Nicholls as successor, the Board have opted for a manager whose entire investment career has been in the Far East region and with a 10-year track record managing Asian equity funds.