Schroders has announced that Andrew Rose, the manager of its Japanese equity funds, is to retire after 38 years with the firm.
Mr Rose, who ran the Schroder Tokyo fund and the Schroder Japan Growth investment trust, will hand over responsibility for the mandates in July to Masaki Taketsume, who has been an employee of Schroders for over a decade.
Over the past five years Mr Rose's £2.3bn Schroder Tokyo fund returned 72 per cent, compared with 66 per cent for the average fund in its sector in the same time period.
Nicky Richards, global head of equities at Schroders, said: "Andrew is one of the most respected and long-standing Japanese Equity Fund Managers in the industry, we would like to thank him for his commitment to Schroders and our clients during his successful 38-year career."
She added: "Masaki is ideally placed to take on Andrew’s fund management responsibilities. We are confident that Masaki’s fund management expertise, supported by investment director Nathan Gibbs and the wider Japanese equities team, will ensure investment continuity for our clients."
Mr Rose and Mr Taketsume have collaborated on portfolio management since 2014, with Mr Taketsume's relocation to London in 2017 representing a key step in the formal transition process.
Darius McDermott, managing director at Chelsea Financial Services, said he rates Mr Rose as a fund manager.
He added: "Good notice on the succession but we will need to meet the new lead manager to form a strong view.
"Andrew has been an excellent long term Japan equity manger. We wish him well in retirement."