Bolton: Reflections of a year in China

CHINA CLIMBS THE WALL OF WORRY

After a year in China, Fidelity China Special Situations manager Anthony Bolton reflects on his original case for investing in the region.

As an investor, it is important to revisit one’s investment case, regularly and dispassionately. China, where I have lived for the past year, is a case in point: the market is constantly changing and the inattentive may be left behind. Has China’s continuing development already realised the investment thesis I laid out last year? I would say no, despite the anxieties of some China watchers and the MSCI China index remaining flat since April last year. Currently, their anxieties are focused on the property market, where there are signs of over-exuberance. Some believe a bubble is devel...