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Fidelity names successor for Anthony Bolton

Fidelity names successor for Anthony Bolton

Fidelity has named Euro Stars A-rated manager Dale Nicholls as the man to succeed veteran investor Anthony Bolton (pictured) on the investment firm’s China Special Situations fund.

The change in manager coincides with Bolton’s decision to retire from fund management and will see Nicholls assume responsibility for the UK-domiciled Fidelity China Special Situations PLC in April 2014.

Australian-born Nicholls currently runs two Luxembourg-domiciled funds, the Fidelity Funds – Pacific and Fidelity Funds – Asian Smaller Companies strategies.

Nicholls has 17 years of industry experience and has a similar management style to Bolton, according to Fidelity. He operates a bottom-up stock-picking style with a growth bias and a focus on small and mid-cap companies.

In order to allow a smooth handover of fund management responsibility, Bolton and Nicholls will work together on the strategy until April 1 2014 when Nicholls will assume sole responsibility.

Prior to managing the China Special Situations fund, Bolton has run a host of portfolios at Fidelity since joining the firm in December 1979. After April 2014, he will continue as an adviser to Fidelity and a trustee of its charitable foundations.

Commenting on the change, John Owen, chairman of the Fidelity China Special Situations fund, said: ‘Stepping into the shoes of Anthony is a significant challenge so we are delighted to have appointed a portfolio manager with a demonstrable record of success investing in the Asia Pacific region and specifically within China.’

‘We selected Dale to continue the research-driven stock-picking approach which we continue to believe is the route to success in this exciting market.’

According to Lipper data, the £510 million (€600 million) investment trust has returned 2.11% in GBP terms over the three years to the end of May. This compares to its benchmark, the MSCI China TR GBP, which rose 4.26% over the same period.

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