International investment firm Martin Currie is to bid farewell to Scott McKenzie, the manager of its £21 million ($34.7 million) UK equity income fund, who is leaving the firm to pursue other opportunities.

Mr McKenzie will hand over management of the fund to Ross Watson today, but will remain at the firm during a transition period until the end of September. Mr Watson also manages Martin Currie’s UK growth and income portfolios.

Mr McKenzie joined Martin Currie in October 2005, prior to which he had been UK equity fund manager at Morley Fund Management.

In other developments, last week Martin Currie said it is to open a Singapore office as its seeks to strengthen its Asian presence.

The Edinburgh-based firm has been managing money in China and Japan since the 1920s, but it set up shop in Shanghai only in 1997 and in Melbourne in 2008; the Singapore office is the third Martin Currie will have in the region.

The company, which specialises in financial institutions, charities, foundations, pension funds and investment trusts, says the Singapore base will initially offer only client servicing, although it is mulling the inclusion of portfolio managers and local analysts over time.

Martin Currie has already picked a person to spearhead its Singapore services, but declined to give a name out as the person is still with another firm.