What to buy as Bolton passes on the baton

After more than 25 years in fund management, Anthony Bolton has finally announced a successor to run the global half of his newly-split Fidelity Special Situations Fund. So what can we expect from the fund in the future?

288_MW_P32gif

That the fund had to be split is generally accepted. As the largest investment fund in the country three times the size of its nearest rival Bolton himself believes that it is now too big to manage effectively. What is causing more of a ruckus is the appointment of his successor, who only began managing funds in 2002. It is for Fidelity to prove to investors that they should keep their money invested with it, says David Prosser in The Independent, but they have not done so as "there are alternative funds that do have the decent track record that Korhonen lacks."

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.