Bolton China trust hits £166m fund raising target

Anthony Bolton's Fidelity China Special Situations trust has raised its target of £166.25m with its latest C-Share offer.

With £720m under management, Fidelity says the trust is the largest listed investment company providing specific exposure to China. At the time of the initial public offering in April 2010, the trust raised £460m, less than the £650m targeted. Today the portfolio is trading on a 5% premium. Bolton has previously said this will be the last portfolio he runs before retirement and that he will manage the trust until at least April 2013. "I am delighted the offer has been fully subscribed for by investors who have endorsed my enthusiasm for the China investment story," says Bolton. ...