Chisako Hardie takes over Balfour’s funds as part of an enlarged role at Axa Framlington, a spokesperson for the firm told WealthBriefing. Hardie will be supported by the global sector team, which was recently strengthened with the appointment of Bruno Grandsard as a portfolio manager.

Balfour, who joined the firm from Baillie Gifford, had managed the £59.5 million ($88.9 million) Axa Framlington Japan Fund since 2004. The fund has reportedly fallen by 12.5 per cent in the past three years, compared to a 3.4 per cent fall in the IMA Japan sector.

Hardie, who joined the firm in 2006 from Scottish Widows Investment Partnership, has managed the Axa Framlington Japanese Smaller Companies Fund since its launch.