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Bolton urges investors to hold out for upturn in fortunes
Markets
by Daniel Grote on Jul 25, 2012 at 08:04
Anthony Bolton has tried to placate investors in his Fidelity China Special Situations fund, pointing towards an upturn in fortunes for Chinese shares before the end of the year.
Speaking at the annual general meeting for the fund, Bolton (pictured) said he stood by his belief in the themes of consumption and services in China, according to The Telegraph.
He added that inflation was now proving less of a worry for the Chinese economy.
‘Valuations and sentiments are supportive for Chinese equities,’ he said. ‘With inflation less of a concern China can continue to stimulate the economy.’
Fidelity China Special Situations has lost 18.5% in net asset value in the 12 months to the end of March, underperforming the MSCI China benchmark index by 6%.
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