SEC probes manager of China trust held by Bolton and Baillie Gifford

The manager of an AIM-listed China trust - which is held by Fidelity's Anthony Bolton, Baillie Gifford and Henderson - is under investigation by the US regulator.

According to a confidential document seen by Reuters, the SEC has issued subpoenas to several investment firms that have done business with Vision Capital Advisors, the New York-based hedge fund. Vision Capital manages the $100m AIM-listed Vision Opportunity China Fund Ltd, which is almost 48% owned by four UK groups. City of London Investment Management owns 21.45% of the vehicle, followed by Baillie Gifford at 15.55%, Anthony Bolton's Fidelity China Special Situations at 5.45% and Henderson manager Paul Craig at 5.3%. The hedge manager has confirmed it is subject to an SEC inquir...