Anthony Bolton: Fidelity China investors will see improvements by end of 2015
Loss-making fund manager Anthony Bolton urges his investors to hold tight at the Fidelity China AGM.
Anthony Bolton of Fidelity
Can he tame the dragon? Anthony Bolton says he can turn the fate of his fund around Photo: John Downing
Emma Wall By Emma Wall4:48PM BST 24 Jul 2014Follow Comments48 Comments
Anthony Bolton today tried to placate investors at the AGM for his Fidelity China Special Situations fund. The fund manager said that he still believed in the key themes of consumption and services and that the growing Chinese middle class would produce positive returns for investors.
He said that inflation was no longer a worry as it was slowing and that the loosening of Monetary Policy was positive for the stock market.
Mr Bolton said that although economic growth had slowed, it was still very positive compared to the West and that he was unconcerned with recent figures.
"Valuations and sentiments are very supportive for Chinese equities," he said. "With inflation less of a concern China can continue to stimulate the economy."
He wouldn't be drawn exactly on when investors can expect the fortunes of the fund to improve, but he did say that he expected to see positive news regarding China shares towards the latter end of this year.