Fidelity cuts cost of Bolton's China trust

The board of Fidelity China Special Situations has decided to lower the trust's annual management charge.

Following a similar move by Baillie Gifford, which cut the cost of four smaller company vehicles, Fidelity said the annual management charge on Anthony Bolton's trust will be reduced from 1 April.

The board of Fidelity China Special Situations and Fidelity Worldwide Investment have agreed to drop the annual management charge from 1.5% to 1.2% per annum. 

John Owen, chairman of Fidelity China Special Situations, said: 'Both the board and Fidelity believe this competitive pricing will be attractive to new investors considering Fidelity China Special Situations and this will be to the benefit of investors in the company overall.'

Like a number of specialised smaller company funds, fees can be a bugbear among investors, and although Bolton (pictured) has turned his performance around of late, his trust previously struggled to grow its share price and net asset value (NAV).

Over the year ended 31 February, Bolton's Fidelity China Special Situations NAV was up 10%.