Fidelity China Special Situations raises £460million Go compare with our comparison table

Fidelity China Special Situations raises £460million

12 April 2010 / by Andy Davies

Fidelity has announced that its China Special Situations fund is one of the most successful new fund listings in the UK market over the last 20 years.

This follows the confirmation that the initial public offering of the fund has raised £460million, making it the largest China equity fund listed in the UK market.

The fund, which is expected to begin trading on the London Stock Exchange on April 19th, is designed to provide investors with long-term capital growth.

Commenting on the popularity of the investment fund, John Owen, chairman of Fidelity China Special Situations plc said: "I am extremely pleased with the amount of money raised through the initial public offering. It clearly demonstrates that investors view the combination of Anthony Bolton and the growth potential of China as a winning combination.  We look forward to delivering on that expectation."

The Fidelity fund is managed by Anthony Bolton, who is best known for his 28 year stewardship of the Fidelity Special Situations Fund since its launch in 1979, achieving an annualised return of 19.5 per cent compared to 13.5 per cent on the FTSE All-Share Index.

Welcoming the support received from investors, Mr Bolton said: "Fidelity China Special Situations will be the largest Emerging Markets equity fund new issue since 1990 as well as the largest China equity fund listed in the UK which is a fantastic achievement. I firmly believe that China is the investment opportunity of the next decade."  

© Fair Investment Company Ltd


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