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NRI Sanjeev Shah to succeed Bolton at Fidelity

NRI Sanjeev Shah to succeed Bolton at Fidelity
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First Published: Wed, May 16 2007. 02 21 PM IST
Updated: Wed, May 16 2007. 02 21 PM IST
PTI
London: Legendary investor Anthony Bolton, who helped turn the fortunes of Fidelity International, has passed the bastion of Britain’s largest money manager into the hands of an Indian origin fund manager Sanjeev Shah.
Shah has been with Fidelity since 1996 and would take over the management of UK Special Situations Fund at the start of 2008, after co-managing the fund with Bolton through 2007.
The 36-year old finance professional currently runs Fidelity’s Euro $3 bn European Aggressive Fund, would be the next manager of the Special Situations fund and the 400 mn pound Fidelity Special Values Investment Trust, both of which are currently run by Bolton.
This would mark the passing on of the last fund managed by Bolton to Shah and the former is moving away from the job of investing client money. Analysts said that while no one could exactly replace Bolton, Shah was the best possible choice for the job.
According to London-based fund tracking firm Financial Express, the statistical ratios achieved by Shah are remarkably similar to those achieved in the same period by Bolton with the Special Situations fund.
The only significant difference is in terms of ability of stock-picking, Financial Express analyst Sarah Beasley said. While both have been superior stock-pickers, Bolton’s score was significantly higher than that of Shah’s.
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First Published: Wed, May 16 2007. 02 21 PM IST
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