Neptune is to close its £1.8m China Special Situations and £400,000 Russia Special Situations funds less than three years after the funds were launched.
Investors in the funds will have the choice of switching into another Neptune fund or selling their holding free of charge. The firm, which made the decision after a product range review, will pay for the termination costs.
A Neptune spokeswoman said: "The move follows a review of our product range designed to ensure that our product offering is focused, but also fully expresses the diverse investment capabilities of our team.
"We have progressively increased the focus of our range to respond to a post-Retail Distribution Review environment. As a result of this, over the past two years we have closed around a third of the funds."
The closures are subject to regulatory approval. All affected investors have been notified.
Despite the closure, the Neptune investment team will remain unchanged. The remaining China and Russia funds will continue to be included in the fund range.
Neptune launched the China Special Situations fund in December 2011, with founder Robin Geffen and Adam Kelly as the first managers. It has returned -4.2% over the year to 27 November 2014, compared to an MSCI China return of 7.2%, according to FE.
The firm launched the Russia Special Situations fund one year later, in December 2012, with a three-strong management team. It has returned -23.6% in the year to 27 November 2014, compared to a MSCI Russia return of -24%, according to FE.
