Wright to manage Fidelity Special Situations Fund

In 2008, the fund, which had reached nearly £10bn in size since launch in 1979, was split into a global and a UK portfolio. The global portion - reflecting Mr Bolton’s penchant for investing in Chinese equities - has had a tough time. Mr Shah’s UK portfolio has had a good run, based on Morningstar figures that show the fund outperformed the all companies peer group average since January 2008, rising 50.17 per cent compared with the UK All Cos sector average of 29.37 per cent. Mr Shah is going to remain as a mentor at Fidelity, the company confirmed.

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