Gosling's Grouse - Bolton's wonders on great calls of China

‘China via Bolton'. Congratulations to Fidelity for coming up with the wittiest headline for a while on an advert for a new fund launch.

But the 64,000 million dollar question – or is it 1.3 billion (the size of China’s population)? – is: are you going to buy into the fund? Strangely, it feels a little like being back to the 1980s or even 1990s with fund launches like this, and, in itself, is a decent indicator that may result in many moving back in the direction of active fund management. Of course, back in the 1980s we had privatisations, and how ironic it is to see the Conservatives suggesting the modern equivalent with the state-owned banks. More on this in next week’s Grouse, but for now let’s not confuse Bolton a...