Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Bolton to be replaced by Dale Nicholls on Fidelity China Special Situations

Bolton to be replaced by Dale Nicholls on Fidelity China Special Situations

Anthony Bolton is to be succeeded by Dale Nicholls on the Fidelity China Special Situations Trust.

Bolton (pictured) will retire from the investment trust in March next year, with Nicholls taking over his duties on 1 April 2014.

While to some Australian Nicholls might seem an unusual choice to replace former Special Situations star Bolton, he is a highly regarded investor with a Citywire Eurostars A-rating for Fidelity's Pacific and Asian Smaller Companies Luxembourg funds.

Fidelity chose to announce Bolton's retirement by issuing a brief statement to the stock market and said it will provide further details on the manager's succession plan when Fidelity China Special Situations posts its full-year results later today.

It is little secret, however, that Nicholls has taken on a tough challenge by agreeing to replace Bolton given the £616 million trust has struggled to outperform since its launch in 2010.

Over three years to the end of April the fund has seen its share price fall 13.97% versus a 1.41% rise in the MSCI China Index, while its net asset value (NAV) per share - a key measure of growth within the portfolio - stands at -1.55%.

At the trust's inception, Bolton said he would manage the vehicle until April 2012 then extended his commitment for a further two years.

Commenting on his decision to retire and Nicholls' appointment, John Owen, chair of the trust, 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.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Dale Nicholls
Dale Nicholls
15/28 in Equity - Asia Pacific Including Japan (Performance over 3 years) Average Total Return: 36.05%
Anthony Bolton
Anthony Bolton
Citywire TV
Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Your Business: Cover Star Club

Profile: Kevin Doran's formula for success at AJ Bell

Profile: Kevin Doran's formula for success at AJ Bell

From a degree in theoretical physics to teaching and becoming one of the youngest chief investment officers in the UK, Kevin Doran has certainly had an interesting career.

Wealth Manager on Twitter