Fidelity cuts charge on Bolton China trust

The annual management charge on Anthony Bolton's Fidelity China Special Situations investment trust will be cut from 1.5% to 1.2% from 1 April 2013.

The move comes as other investment trust providers, including Baillie Gifford, also cut charges to ensure the vehicles remain competitive against open-ended peers post-RDR. John Owen, chairman of Fidelity China Special Situations, said: "Both the board and Fidelity believe that this competitive pricing will be attractive to new investors considering Fidelity China Special Situations and this will be to the benefit of investors in the company overall." Bolton had a well-publicised period of poor performance after launching the trust in April 2010, but this has now started to turn aroun...