Can Sanjeev Shah fill Anthony Bolton's shoes?

The search for Britain's most successful investor is over. Sanjeev Shah (left) has been chosen to take over the UK half of the Fidelity Special Situations fund recently vacated by Anthony Bolton. But can he fill his predecessor's shoes?

The search to replace Britain's most successful investor is over. Sanjeev Shah, manager of Fidelity European Aggressive, will take over the UK half of Anthony Bolton's Special Situations Fund. It's a daunting task Bolton has returned 15,262.7% since December 1979 against 3,421.0% for the FTSE All Share. Shah has had a good run at Fidelity UK Aggressive, returning 77.8% against 49.7% for his benchmark between October 2002 and August 2005. But his European Aggressive fund has been less impressive, returning 32.9% against 38.6% for the sector since August 2005.

Some fear that Fidelity has relied too much on Bolton. According to Bestinvest, £800m in total has been pulled out of the Special Situations fund since it was split into global and UK halves. "The fund outflows, the poor performance across a range of funds and the withdrawal of Anthony Bolton from active fund management mean that Fidelity is not a place where I would want to have investors' money," Brian Dennehy of Dennehy Weller tells The Times. He says that investors should look at alternatives, such as M&G Recovery (see story on the facing page), Artemis UK Special Situations and Jupiter Undervalued.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.