A field day for the sceptics. Anthony Bolton, a star UK fund manager with a sparkling 28-year track record, moved to Hong Kong in 2010 to launch a China fund, despite not speaking the language and having little experience in the country. On Monday he announced his retirement again. His investment trust (Fidelity China Special Situations) is down 15 per cent since launch, slightly underperforming the MSCI China index. In an effort to close the 11 per cent discount to net asset value, it has been buying back shares. It has also cut the annual management fee by 30 basis points to 1.2 per cent.
這是令懷疑論者們得意的一天。安東尼?波頓(Anthony Bolton)，這位不會說中文、對中國也缺乏體驗的英國明星基金經(jīng)理，在創(chuàng)造了28年的輝煌業(yè)績之后，于2010年來到香港，成立了一支中國基金。周一，波頓再次宣布退休。他的投資信托基金——富達(dá)中國特殊情況基金(Fidelity China Special Situations)——自成立后價格已下跌15%，表現(xiàn)略差于摩根士丹利資本國際中國指數(shù)(MSCI China index)。為了縮小對凈資產(chǎn)值11%的折價，該基金一直在回購份額。它還將年管理費(fèi)下調(diào)了30基點(diǎn)，降至1.2%。