Bolton takes out £65m gearing on China trust

The revolving facility agreement, agreed through JPMorgan Chase bank, represents 14.5% of the net asset value of the £460m trust. Bolton has the ability to gear the trust up to 30% of NAV. Bolton has previously stated he intends to get quick exposure to the market. "It will depend on the conditions at the time, but my intention is to put the money to work quite quickly into the markets and use futures to get the market exposure," he said. "This will then allow me to invest in individual stocks more slowly over time. However, I do not want to be drawn exactly on how quickly I will b...