Jupiter Asset Management has promoted Mitesh Patel to fund manager on its Japanese funds alongside Dan Carter.
Patel, who joined the firm as assistant fund manager in 2016, stepped up as fund manager for the £576m Jupiter Japan Income and $143.5m (£111m) Jupiter Japan Select funds in January.
Patel joined Jupiter from Barings, where he ran the firm's Japan fund, having begun his career at BlackRock.
Carter, who joined Jupiter in 2008 and has led its Japanese strategy since 2016, told Investment Week "it was always going to be a case of promoting [Patel] so we were both fund managers on the strategy".
Carter said: "There are multiple ways you can run teams and one thing I knew I did not want to do was have a Dan fund and a Mitesh fund, or a Dan fund and a Mitesh sub-fund, or sleeve.
"I know some people do it that way, and it's kind of the way we did it historically, but I actually think it is dysfunctional; it is an unhelpful way to run money.
"There has always got to be a prize, something that you are working towards, and it was pretty clear when Mitesh came in he was not going to be happy being assistant fund manager for the rest of his life and that was not going to suit me either.
"[But] it was always going to be a much more collaborative way of doing things. I know that requires a bit of explanation to clients because they are not used to that, but I do think it is the best way to go."
Meanwhile, Jupiter's deputy CIO Katharine Dryer, said the promotion was "in recognition of the significant contribution Mitesh has made to the success of our Japan strategy".
"The growth in assets we have seen in the funds is testament to effectiveness of the partnership between the two managers," Dryer added.
Since Carter became lead manager on 30 June 2016, the Jupiter Japan Income fund has returned 62%, well above its Topix benchmark and Investment Association Japan peers' respective 45.4% and 45.7% gains, FE fundinfo data shows.