Who has it right on China?

Fidelity China Special Situations manager Anthony Bolton said the next 12 months should be a defining period for the country. In his view, investors will start to realise China is "not a house of cards that is going to collapse" and they will hopefully start to allocate more of their portfolio to the region.

His belief in the strength of the Chinese consumer and burgeoning demand from the growing middle class in the country remains resilient despite a series of knocks for the trust since launch. This is reflected by his top holding in the fund, China Unicom, which is set to benefit from the growth of smartphones in the country. His colleague at Fidelity, Raymond Ma also highlights some compelling figures to support the consumer story. The manager believes robust wage growth will be a key driver of stronger consumption in the foreseeable future and points to the fact household incomes are ...