FTAdviser’s analysis using Asset Allocators’ databases reveals a significant reduction in UK discretionary wealth managers’ exposure to Asia Ex Japan funds over the past year. As of November 2023, the average exposure has decreased from 5.3% to 4%, with a peak at 5.6% in May 2022. Notably, Bordier & Cie and M&G Wealth have the highest exposures at 11%, almost triple the peer group average. This change reflects the sector’s underperformance relative to global equity markets over three years. In contrast, firms like Morningstar and 7IM have zero allocations in these funds. Schroder emerges as a key player with popular funds in the region, including Schroder’s Asian Income, held by nine allocators, and the Schroder ISF Asian Total Return fund, included in six portfolios.