Fidelity must learn a lesson from Special Sits transition

After a 10-month wait for Jorma Korhonen, investors in Fidelity's Special Situations fund could be f...

After a 10-month wait for Jorma Korhonen, investors in Fidelity's Special Situations fund could be forgiven for being entirely underwhelmed by the announcement on splitting Anthony Bolton's £6bn portfolio last week. All the talk of Sanjeev Shah and Tim McCarron as possible replacements proved misplaced, as Fidelity announced a relative unknown to manage half of the mammoth fund, with a global special situations mandate, from next year. Korhonen, despite spending 10 years at Fidelity, has absolutely no retail profile in the UK, although Bolton stresses he was in a similar position when he...