Fidelity cuts charges on Bolton's China trust ahead of handover

Fidelity Worldwide Investment has cut the annual charge on Anthony Bolton's China Special Situations investment trust ahead of the handover to incoming manager Dale Nicholls.

The group has cut the AMC from 1.2% to 1% just weeks before the trust is handed over to Nicholls at the start of April. It is the second reduction in the AMC since it was launched in April 2010. The group cut it from 1.5% to 1.2% last year. As part of the charging overhaul, Fidelity has also reduced the performance fee cap, lowering the maximum that can be levied when the fund outperforms against its benchmark from 1.5% of the value of assets to 1%. John Owen, chairman of Fidelity China Special Situations, said: "We have seen significant changes to pricing following the introductio...