Anthony Bolton: Expect improvement in China by end of 2012
Fidelity China Special Situations fund manager Anthony Bolton has told investors to stick with the investment trust as its outlook is likely to improve later this year.
Bolton said he still believed in key themes like consumption and services and added that China’s growing middle class would create positive returns for investors.
Speaking at the trust’s annual general meeting, Bolton said that inflation was slowing in China and that a loosened monetary policy was good for the economy, adding that the outlook for economic growth looked far more attractive in comparison to the West.
According to the Telegraph, Bolton said: “Valuations and sentiments are very supportive for Chinese equities. With inflation less of a concern China can continue to stimulate the economy.”
The £510m Fidelity China Special Situations trust launched in April 2010 but has endured mix returns since then. The trust has lost 18.5 per cent of its NAV in the 12 months to the end of March 2012.
Will Dale Nicholls do a better job than Anthony Bolton running the Fidelity China Special Situations trust?