Bolton and Young clash on Chinese companies

Fidelity's veteran manager Anthony Bolton has hit back at Aberdeen's head of equities Hugh Young, who says he is struggling to find quality, well-run companies on the Chinese mainland.

Last week Young, manager of the Aberdeen Asian Pacific fund, said he is finding it impossible to select good companies on mainland China because poor management and lax corporate governance is prevalent. Bolton, manager of the China Special Situations trust, responded there are poorly run companies on the mainland, but this is to be expected within an immature market, and there are still plenty of good companies to be found. "I would disagree that you cannot find companies in which to invest in China. There is a large minority of companies I am not happy with, but it is a minority. "T...