Martin Currie has appointed Damian Taylor as co-manager of the £125m Asia Unconstrained trust, alongside Andrew Graham (pictured) who has been sole manager since 2011.
Taylor has been part of the firm's Asia investment team since 2013 and has 18 years of experience as an active equity investor with a background in private equity.
The board of the trust said his appointment, which was announced in the trust's half-year results released this morning, will be complementary to Graham's role and will "strengthen the efforts of the investment manager in executing the mandate". He will officially join as co-manager on 1 December.
Meanwhile, the trust reported a 1.8% total return for the six months ending 30 September compared to a return of 0.39% from the MSCI Asia ex Japan index, though it stresses the mandate is not constrained by any benchmark.
Harry Wells, chairman of the board, said: "Asia has a history of volatile markets and we believe that GDP rather than indices is a more reliable indicator of potential investment returns."
He said the return figures reflect the "global challenges facing Asian regional markets this year".
Manager Graham added: "While the burgeoning trade war grabs the headlines and may have serious longer-term implications for global growth, the greatest immediate concern is liquidity and how unwinding QE plays out in asset markets.
"In Asia, regulatory and monetary authorities now have a tightening bias. Reflecting this more challenging environment, there has been a marked change in earnings expectations as analysts have cut forecasts to reflect the impact of currency weakness and other more growth-related factors.
"At the same time, the ratio of earnings upgrades compared with downgrades has dipped below its long-term average: a signal that confidence in the earnings outlook has eroded."
However, the manager said positive returns can be generated from current valuation levels, though they are "only slightly below long-term averages rather than at bargain-basement levels".
He added: "Sentiment is obviously strained at present and as investors, we must not only be prepared to look through the volatility but must also be prepared to invest in good businesses when they become available to us at attractive prices.
"Our mindset is firmly in the camp of looking for opportunities to buy."