This broker's note caught my eye this morning, Anthony Bolton's new closed China end fund is sitting on a large premium and Oriel point out the attractions of a competitor, JPMorgan China which has a long established track record and can be bought at 5% discount.

David Fuller's view Thanks for this. I can reproduce the note, which I have linked to your email above, but not the charts which require a password. Nevertheless they are not central to the argument.

I am a great admirer of Anthony Bolton but if I had an investment in his China Investment Trust, currently selling at a premium to NAV of over 7%, I would sell it in favour of another China instrument (Fidelity have several in addition to those mentioned in the circular above). I would not consider repurchasing it until it sold at a discount to NAV as is the norm for ITs (closed-end funds).