Anthony Bolton is to extend his tenure as manager of Fidelity China Special Situations until April 2014.
Bolton had previously committed to running the investment trust until April 2013 but told investors earlier this year that he would make a fresh decision on his future by the time of this July's AGM.
"The board of Fidelity China Special Situations is pleased to confirm that
Anthony Bolton has decided to extend his minimum tenure as portfolio manager from April 2013 until April 2014," the board said in a statement.
China Special Situations has had a rocky ride since launch and Bolton has admitted performance has been "disappointing".
The trust was the second worst performer across all AIC sectors last year, with its NAV falling 31.2% over 2011, while the trust's share price is down 13% since inception.
Investment trust analysts JPM Cazenove and Oriel last year downgraded the portfolio, and it drifted onto a discount, prompting the company to embark on a series of share buybacks.
The trust is currently trading on a discount of 7.1%, according to Winterflood.
Bought plans in 1988 and 1989
To be added to model portfolio service
Launched 25 September