Excellent post by Roman! |
Looking good on the most boring thread ADVFN has ever known.
Making good money anyway so what the hell if I'm doing it on my own lol. |
Wow, flying north from July, feeling good again! |
No big surprise and not a big loss as Bolton hasn't really added any value here except for his "big name" attracting lots of initial funds. His style is too active in my opinion. They need to start thinking about buying good cheap shares and holding on to them, rather than buying and selling short term. Anyway, lets see how the new manager does post Bolton. No pressure, as he hasn't got a tough act to follow. The fund is effectively still neutral which is pretty rubbish. |
Bolton to step down at Fidelity China fund |
So Bolton's off, with effect next April...
The Board of Fidelity China Special Situations PLC ("the Company") announces
today that Anthony Bolton will be retiring as Portfolio Manager of the Company
on 31 March 2014. Mr Bolton will be succeeded by Dale Nicholls who will assume
full responsibility for the portfolio of the Company on 1 April 2014.
Further information on the transition of Portfolio Manager can be found in the
preliminary announcement of the Company's results for the year ended 31 March
2013, which will released later today and a copy of the press release will
shortly be made available on the Company's website at www.fidelity.co.uk/its. |
 So Bolton's retiring next year:
Monday 17 June, 2013
Fidelity China
Statement re Change of Portfolio Manager
Fidelity China Special Situations PLC
Change of Portfolio Manager
The Board of Fidelity China Special Situations PLC ("the Company") announces
today that Anthony Bolton will be retiring as Portfolio Manager of the Company
on 31 March 2014. Mr Bolton will be succeeded by Dale Nicholls who will assume
full responsibility for the portfolio of the Company on 1 April 2014.
Further information on the transition of Portfolio Manager can be found in the
preliminary announcement of the Company's results for the year ended 31 March
2013, which will released later today and a copy of the press release will
shortly be made available on the Company's website at www.fidelity.co.uk/its.
For press enquiries, please contact Tom Stevenson on 01737-837844
Christopher Pirnie
For and on behalf of FIL Investments International
Company Secretary
17 June 2013
-----------------------------
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 significant tilt towards smaller and mid-cap companies.
hxxp://www.ifaonline.co.uk/ifaonline/news/2275224/anthony-bolton-to-retire#ixzz2WSfqxdZC |
http://www.scmp.com/business/article/1237075/morgan-stanleys-bull-tail-sees-hang-seng-50000? |
Another half a million buy back seems to be doing the trick today.
Supply & demand etc. |
At this rate we wont have to wait too long to get back to £1.00 start mark.......and then hopefully onwards and upwards! |
And another 1.75Million buy back today.
Excellent. |
Still low enough to invest in this one. |
Thank you GI, interesting read! |
 Now in fourth week touring around Southern China.
Some impressions.
Firstly every internal flight is full. Airports are heaving. They are massively efficient. Even when things go wrong they are put right immediately so a missed or cancelled flight here is no big deal. Air travel has to be a huge potential investment. The numbers of foreign traveellers - for whatever reason - are impressive especially Russian (sadly) Israeli South African and South Korean. Anthony Bolton here has to be your main investment targets. New airport terminals are going up everywhere and the appetitie for Chinese to move around the country on business for holidays or just for personal reasons such as visiting family, is huge.
Cash machines and banks are busy.
The big need especially in the south is for improved railway services which are dreadful. Trains are heaving but the system is diabolically tired and new rolling stock and tracks are desperately needed. Systems need to be addressed - the Chinese here in the South know how to make life difficult for evryone.
Internal tourism grows fast but little of it is seaside or coastal.
The Chinese run hotels are generally - with some exceptions - very poor still and one looks to stay at Marriotts, Sofitels, Shangri Las etc. These are excellent, professionally run and a real treat at comparitively low prices. Getting a a free upgrade is par for the course.
Loads of potential here for investment but not for PIs. This is a country where one has to think big. Investing in Mr Bolton's China fund is a way in but I fear for Anthony's health in this fast run demanding and exhausting place which is not for the elderly, even if they live in Hong Kong luxury most of the time. |
Another 1,000,000 buy back today. Good stuff. |
Looks like Mr Boltons still on the war path Re: bringing the NAV closer to the SP, more share buy backs today. See previous threads of mine, I saw this drop as soon as he got greedy an diluted the market @1.27p glad he's put his tail inbetween his legs.
Should be a quid soon. |
So JPM IT Chinese (157.5p) and Fidelity SS China (96p) are both trading again towards the bottom of their respective discount-to-NAV ranges.
China's currency reserves have been balooning again; I wouldn't be surprised if the peg moves slightly upwards, with positive implication for these two £-priced investment trusts. :-) |
Yes, it's not like he's Warren Buffet anyway. I think his investment approach is reasonably average, albeit probably just about second quartile. Let's face he is still underwater here which is rubbish in the time frame he has had! I think he will stay until he regains a reasonable profit otherwise his legacy as a good investor will be in tatters. |
You'll just have to wait and see is a fair response when asked will you be around for the next 5-10 years! |
Didnt like the answer at the end |
Come on me old China. |
Good finish. |
In for another big one today, another 15k @92.5 just after lunch. |
NAV's touched over a quid, just hope the slack tightens up. |
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