Star fund manager and erstwhile China bull Anthony Bolton is leaving Hong Kong after a less than stellar performance by his Fidelity China Special Situations fund.
Bolton's fund was set up in 2010 with no little fanfare. His website invited investors to "experience the changing balance of the world economic powers". However, the fund's performance has not matched the initial high hopes, and shares in the fund are currently below their launch price.
Bolton admits he has found it harder than he anticipated and has been unable to match the stellar success he enjoyed during the 28 years running Fidelity UK Special Situations when he produced annualised returns of 20 per cent - an outstanding track record.
However it may be, Bolton's brief visit to Hong Kong has not been entirely in vain. He splashed out on a spanking property on his arrival to demonstrate his commitment, which may well have done rather better than his fund.