Top UK investor seeks Chinese deals
Updated on 26 November 2009
One of the UK's most renowned investors has announced plans to return to fund management to head up a new portfolio investing in China.
Anthony Bolton, of Fidelity International, will launch a new fund towards the end of the first quarter of 2010 investing in China and China-related opportunities.
Mr Bolton said: "I firmly believe that China is the investment opportunity of the next decade."
Described as one of the most successful investors of his generation, Mr Bolton is best known for his stewardship of Fidelity's Special Situations Fund, which he managed from its launch in December 1979 until the end of 2007.
During this 28-year period, the fund achieved an annualised return of 19.5%, compared with returns of 13.5% for the FTSE All-Share Index.
Somebody who invested £1,000 in the fund at its launch would have had an investment worth £148,200 when Mr Bolton stood down in 2007.
Mr Bolton plans to relocate to Hong Kong during the early part of next year, with a view to launching the new fund at the end of March.
He said: "I have been a regular visitor to China since 2004, when I started meeting and investing in Chinese companies.
"After spending the last few months in Asia, I have become increasingly excited by the prospect of managing a portfolio investing in the tremendous growth potential of China."
Fidelity already has a presence in the country, after opening an office in Hong Kong in 1981, followed in 2004 by one in China, which is now located in Beijing.
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