Fidelity's Bolton moves into financials

Fidelity's Anthony Bolton has made a bold move into the financials sector, taking big positions in H...

Fidelity’s Anthony Bolton has made a bold move into the financials sector, taking big positions in HSBC and Alliance & Leicester. The move is among several major changes Bolton has made on his Special Values investment trust between August and the end of November. He has also doubled his position in oil and gas company BG Group and added to pharmaceutical giant GlaxoSmithKline. Financials made up 21.8% on 31 November of the Special Values trust, compared to 13% at the end of August. The sector as a whole has been decimated in the fall out from the credit crisis. Alliance & Leicester...