UBS Wealth Management's research team is finding better value opportunities in Europe than in emerging markets, pointing to the latter's political instability and lack of earnings momentum.
Shares across Asia fell on Thursday after latest Chinese manufacturing data came in at a seven-month low.
Jonathan Pines, manager of the Hermes Asia ex Japan Equity fund, has named five stocks that helped him beat competitors in his peer group last year.
Barings Asset Management will close its China Growth fund in April after six years.
Aberdeen head of global emerging markets Devan Kaloo has said the asset class will avoid a 1998-style collapse despite the sharp slides in currencies seen in recent weeks.