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Interesting - Anthony Bolton's New China Fund Is Up 27% In 6 Months - But There's A Twist

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the twist is - Asia Pac index funds and ETFs are up 17% or so in a similar time - except Bolton's fund, being a closed ended trust, is trading at a 10% premium to its book value

so is it fair to say it has simply tracked the index? (he's a value investor so you would expect him to profit in fits rather a gradual climb, but all the same, not that much to write home about...yet)

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Yeah, I made that observation a week or two back when the Fool had the story. Take away the premium and it's pretty-much identical to my other China-focused holding, which has a much longer track record of good performance.

The premium is presumably the market's expression of confidence in Bolton: investors are paying for an expectation of better-than-average growth. Having bought a small amount at launch I'm holding (where a pure value investor should presumably take profits), but I wouldn't pay that premium to buy more!

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Tee-hee, when I first found this site I couldn't help laughing at the truisms. Oh how things have moved on, but still remain the same. I've got some cash in Jupiter's china fund but I think they are by and large all the same. A crash in the index would hurt all the funds.

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  • 245 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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