Star fund manager Anthony Bolton is to retire from portfolio management next year, Fidelity has announced, with Dale Nicholls set to take over the reins at the group's China Special Situations investment trust.
Nicholls will become portfolio manager of the trust in April 2014, when Bolton will officially step down. Bolton is to continue as an adviser to the group. Fidelity said the appointment of Dale reflects the wish of its board to continue with the current investment approach and strategy following the change of manager. Dale has 17 years' investment experience and has managed the Fidelity Funds Pacific fund since September 2003. Over that period he has returned 154% versus an index return of 117%. Like Bolton, Fidelity said Dale is a bottom-up stock picker with a growth bias and a si...
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