Anthony Bolton admitted on Tuesday that the performance of his Fidelity China fund, which was launched last year to great fanfare, had been “disappointing” as the company unveiled its first set of annual results.
Mr Bolton said that the period from April 19 last year, when the fund first listed in London, to March 31 this year had been a “year of two halves” and that the performance since the year end had deteriorated.
“The second half, as well as performance since the period end, has been disappointing for investors and me personally,” said the fund manager who wowed investors during his 28 years at Fidelity’s flagship London-based Special Situations.
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