While his China-focused fund has struggled in its first year, top U.K. fund manager Anthony Bolton says he’s sticking to his general approach — with some modifications — and continues to think Chinese stocks are packed with potential.

“I am pretty confident in the general approach,” Bolton tells The Telegraph. “I said before the fund was launched that I think the drivers of Chinese growth are changing and the areas of future growth will be different from those of the past. I’ve tried to focus on those areas which are domestic consumption and services orientated. I feel even more strongly that this is the case after the last year. My view is that Chinese stocks will go up.”

One way Bolton is adjusting his strategy, however: portfolio size. Before the launch of his fund, he thought he’d be holding about 60 stocks, he says. Now, he has about 120. “The number will come down a bit, but I think my original thoughts were wrong,” he says. “It’s going to be higher than 60.”

Bolton says you can’t predict what will happen in the next year, but he adds that he doesn’t see market conditions that are typical of a bull market peak. “I think the very fact that people have been worried about certain things in China is a good thing as it means the bull market has further to go,” he says.

One piece of broader strategic advice from Bolton involves timeframe. He says anyone investing in equities should have at least a three-year timeframe, regardless of the current environment.