First State has confirmed that it has raised the annual management fee on its Global Emerging Markets fund from 1.5 per cent to 1.75 per cent.

The news comes after the asset manager implemented similar increases to its Asia Pacific fund earlier in the year.

First State said the increases are justified because of the long-term track records on the funds. It launched its Global Emerging Markets fund around 20 years ago. It is currently managed by Jonathan Asante since he took over in January 2008.

Gary Withers, regional managing director for the EMEA region at First State said that the company has managed inflows into the Fund in order to prevent the dilution of investment performance for existing shareholders.

He explained, ‘Our cautious approach to the development of the business mirrors our conservative investment style, focusing on capital preservation and growth.

‘These guiding principles have enabled us to produce consistently strong returns in both Asia Pacific and Global Emerging Markets asset classes since launching our first fund in 1988.’

£1,000 invested in the fund ten years ago would have grown to £2,989 over that period, according to figures from Financial Express to the end of January.