This story is from May 17, 2007

Fidelity makes Sanjeev Shah leader

PTI / May 17, 2007, 05:10 IST

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Legendary investor Anthony Bolton has passed the bastion of Britain's largest money manager into the hands of an Indian origin fund manager Sanjeev Shah.

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.
Fidelity has said that Shah, who has been with Fidelity since 1996, would take over the management of UK Special Situations Fund at the start of 2008, after co-managing the fund with Bolton through 2007.
Shah, 36, who currently runs Fidelity's euro 3 billion European Aggressive Fund, would be the next manager of 3.2 billion pound Special Situations fund and the 400 million 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.
The analysts said that while no one could exactly replace Bolton, Shah was the best possible choice for the job.

Shah, who was born in London and studied at University of Cambridge and Instead, has managed a return of 7% for his European Aggressive Fund so far in 2007, which is nearly double the broader market indices.
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," she added.
"The Special Situations and European Aggressive funds have been run with very similar investment approaches, suggesting similarity between their investment style," Beasley said.

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