Mr Farquharson had been at Schroders’ Japanese equity team for 17 years. During this time he held various positions including head of research in Tokyo and more recently, manager of Schroder Japan Growth Fund.

Separately, Matthew Brett has been appointed co-manager of the Baillie Gifford Japanese Fund, a sub-fund of Baillie Gifford Overseas Growth Funds, working alongside lead manager Sarah Whitley.

Mr Brett joined Baillie Gifford in September 2003 and is an investment manager in the Japanese investment team.  He takes over from John MacDougall who will continue to manage the Baillie Gifford Japanese Smaller Companies Fund.