Bolton failure could damage all investment trusts - Winterflood

The investment trust sector could suffer if Anthony Bolton fails to make a success of his new Fidelity China Special Situations vehicle, securities broker Winterflood has warned.

It says concerns over fees and the manager's lack of experience in China are legitimate and his success or failure could impact the whole sector. "A number of criticisms have been levelled at the new fund including the quantum of management fees; Anthony Bolton's lack of experience investing in China; and the likelihood that retail investors may not appreciate the risks investing in a volatile market," says Winterflood. "Although these objections all have a degree of validity, we believe that the real danger for the investment trust sector is that Anthony Bolton fails in the next few ...