Anthony Bolton, the president of investments at Fidelity International, has surprised colleagues by cancelling retirement plans to set up a China-focused equity fund, the Financial Times reported. Bolton, who made his name as a contrarian investor in charge of Fidelity’s special situations fund, made the decision while on a tour of China last month. He will relocate from London to Hong Kong in order to oversee the fund. Some observers doubt Bolton’s ability to replicate his European success in China as he does not speak Chinese and has never lived in the region. Bolton said he is not a China expert and will look at the country from a global perspective. He added that investors in his fund would benefit from his experience backing European companies over the past 30 years in sectors such as consumer services and franchises.