Abrdn veteran Hugh Young is retiring after a 43-year investment career and will step down from his last fund management role at Abrdn Asia Focus at the end of the year.

Mr Young, who has run the £498m smaller companies investment trust from Singapore, was previously a main board director and head of investments at Aberdeen Asset Management before its merger with Standard Life in 2017.

His other last remaining directorships are on the board of the India Fund in the US that Abrdn manages and Abrdn New Dawn investment trust, which is merging with stablemate Asia Dragon.

“Hugh has been instrumental in establishing a solid foundation for Abrdn’s Asia Pacific business, building a deep bench of talent and delivering quality investment outcomes, putting the region on a sustainable growth path.”