Fidelity’s Anthony Bolton, one of the U.K.’s top fund managers, says that we’re embarking on a multi-year bull market for global equities, with developing nations leading the way.

“Low growth means low interest rates, and actually that’s one of the best environments for stock-market investing,” Bolton, whose Special Situations Fund beat the FTSE All-Share Index by 6 percentage points per year from 1979 through 2007 (he stepped down in early ’08), told Bloomberg television. “Anything that can show growth in this low-growth environment is going to be bid up by investors. It’s very pro the emerging-market world versus the developed world.”

Bolton has made some prescient calls before, dumping telecom stocks right around their peak back in 2000 and saying on March 11 this year that U.K. stocks were at or near their lowest point (they bottomed on March 3), according to Bloomberg. He says he’s particularly high on Chinese stocks, because he thinks the government will foster sustained economic growth without fueling inflation.