Fidelity China discount tightens despite Bolton exit

clock

The board of the Fidelity China Special Situations trust has moved to keep its discount under control after the announcement of manager Anthony Bolton's retirement.

The board bought back 500,000 shares in the trust yesterday afternoon, following on from the morning announcement that Bolton (pictured) will retire in April 2014. The move helped drive down the trust's discount, which stood at 7.6% prior to the news, to 6.3% this morning, according to brokerage firm Numis. The narrowing of the discount also reflects support for Bolton's successor - Dale Nicholls - who has managed Fidelity's offshore Pacific fund since 2003. Analysts at Numis expect Fidelity's board to continue buying back shares to ensure the company is trading at an attractive le...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Stories of the week: Trump, private markets, and the UK labour market

Stories of the week: Trump, private markets, and the UK labour market

Tariffs, the FCA, and Close Brothers Asset Management: The biggest stories from the world of investment and asset management this week

clock 07 March 2025 • 1 min read
Partner Insight: A.I. meets Infrastructure - a tale of data storage, energy efficiency and opportunities

Partner Insight: A.I. meets Infrastructure - a tale of data storage, energy efficiency and opportunities

The AI revolution is transforming data centres into a booming business. This propels sustainable innovation and growth with numerous investment opportunities in the infrastructure space on the horizon

Van Lanschot Kempen Investment Management
clock 05 March 2025 • 6 min read
Stories of the week: Defence spending, the FCA, and Brickwood

Stories of the week: Defence spending, the FCA, and Brickwood

The German election, Unilever, and UK GDP: The biggest stories from the world of investment and asset management this week

clock 28 February 2025 • 1 min read
Trustpilot