China fund management

There is a neat coincidence about Anthony Bolton announcing his planned retirement from its Fidelity’s China Special Situations investment trust – and putting out the news in the middle of the current emerging market turmoil.

But that’s probably all it is – a coincidence. Bolton won’t actually be going until April 1 next year which suggests that, far from being a rushed response to recent events, Monday’s move has been in the works for a while. 

Slowly but surely, BlackRock’s designs for its China push are falling into place.

Having recruited Mark McCombe from HSBC in Hong Kong to run Asia just 16 months ago, the world’s biggest asset manager this week has hired Wang Hsueh-ming (王學明), one of Goldman Sach’s top lieutenants in China, to head up its operations there.