Fidelity's star asset manager, Anthony Bolton, has decided to put limits on the size of his new Chinese equity fund, due to launch next year, as he is keen to avoid being overwhelmed with investors' funds.

He said last night: "I'd prefer to manage a small fund than a big one." Analysts believe a fund valued at between £1bn to £2bn is on the cards, with the final sum raised likely to be towards the lower end of the range. A Fidelity spokeswoman declined to confirm a figure.