McCay has been at the helm of the £115m Martin Currie Asia Pacific (ex Japan) fund since September 1998, and has been head of Asia at the group since 2002.
In 2008 he launched a concentrated version of the fund, Asia Long Term Unconstrained, which holds 30 stocks. A Ucits-compliant version of the fund was launched in 2012 which has an AUM of around $650m.
Andrew Graham, the current co-manager of the fund, will take over as lead manager and will replace McCay as head of Asia.
Graham has been with the firm around three years, and has been working in the Asia Pacific equities market for more than 20 years.