UK's "Warren Buffett"：Fidelity's Bolton to focus on China fund

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

UK's "Warren Buffett"：Fidelity's Bolton to focus on China fund
(China Daily/Agencies)
Updated: 2009-11-27 08:02 Comments(0) PrintMail  

Fidelity International's Anthony Bolton, one of the UK's best known and top performing asset managers, said he plans to return to managing money next year, with a focus on the increasingly important China market.

Bolton, who retired from active fund management in 2007, said he would move to Hong Kong early next year to manage a new China investment portfolio, which would likely be launched at the end of the first quarter of 2010.

"The center of gravity is shifting to this part of the world and I want to play a part in it while I can," Bolton, a 30-year veteran of Fidelity, told a media briefing.

Bolton shot to fame for managing the Fidelity Special Situations fund since 1979, turning every 1,000 pounds ($1,670) invested at its launch to 148,200 pounds over the 28 years that he ran the fund, according to Fidelity.

Bolton, 59, is not the first high-profile British executive to announce plans to move closer to China in recent months. HSBC said in September that its chief executive, Michael Geoghegan, was moving to Hong Kong from London.

"It's not just Bolton, nobody can afford to ignore China," said Xav Feng, head of China research at Lipper.

Related readings:
Top fund manager bets big on China firms
Fund-raising regains its momentum
China sovereign fund buys 45% stake in Russian oil company
China's CIC wealth fund muscles up as markets recover

Bolton declined to divulge details about the new portfolio, saying simply that the fund managed by him would take bigger active bets than Fidelity's existing China-focused funds.

Fidelity International, which has been investing in China for 16 years, has $210.1 billion in assets under management globally and around $4.5 billion in its China funds.

Fidelity International is an affiliate of Boston-based Fidelity Investments, the world's biggest mutual fund company.

Bolton said his preference for privately owned Chinese companies over State-owned enterprises was very change as most recent scandals had involved government-controlled companies while private companies had access to the best deals.

He has been investing in China since 2005, in a professional and personal capacity, and has been visiting the country twice a year to meet Chinese companies. Bolton said he met 14 companies during this visit, including some newly listed entities.

"A typical British investor has about 15 percent of his portfolio invested in emerging markets now and the rest in the developed world, but that will change in the next few years," he said.

Bolton said the "bargain stage" for Chinese stocks was over, but average valuations of Chinese companies were still in line with their long-term averages.

"It would have been lovely if we could have launched this fund earlier this year," he said.

Bolton said he expected long-term currency and stock market gains in China and a year into a bull market may be too early to start fretting about asset bubbles in the economy,especially for Chinese private hi-tech firms like Alibaba.

"I believe in my lifetime, China will become the second-largest stock market in the world," he said.

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏1 回帖

关键词：Buffett Bolton Buffet Warren China performing investment management important managing