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.
A continuation of the crisis in emerging markets will spell further pain for developed equity markets, Carmignac Gestion managers have said.
M&G's Mike Riddell has questioned the sharp rise of China's investment to GDP ratio, comparing the figure with former bubble countries including Iceland and Asian countries during the 1997 crisis.
Equity markets across Asia have moved into the red after manufacturing figures suggested Chinese industrial activity has hit a surprise six-month low.