Eastern promise: will China deliver? In recent months, this has gone into reverse as investors have poured back into emerging markets, causing some fund managers to worry if they can cope with the sudden influx. With concerns remaining about China's ability to avoid a "hard landing" after an unprecedented period of expansion, Citywire Selection has avoided selecting a China-focused fund. Instead, we have chosen two funds investing around a third of their investors' money in China, but also more broadly throughout the region. To make things interesting, we have also included a Japan fund. Japan has been the perennial disappointment to many UK investors. A 20-year period of deflation has hurt its stock market, and the chronic overvaluation of the yen has depressed returns for sterling-based investors. However, with some of the smartest investment brains allocating more money to Japan, it is possible even this country's depressed stock market could turn a corner. First State Asia Pacific Leaders We start with the gentle giant of the Asia Pacific excluding Japan sector. The £5.3 bn First State Asia Pacific Leaders fund is run by Angus Tulloch, a highly experienced investor in the region. Mr Tulloch's cautious approach has enabled the fund to avoid the worst losses when Asian markets fall and to capture most of the upside when they recover. In the past 12 months, as other funds in the sector have lost an average 7pc, Mr Tulloch's fund has been basically flat. Over five years, however, it is one of the sector's top funds, with an impressive total return of 91.3pc. Mr Tulloch is sceptical about the Chinese government's ability to unwind the country's speculative property bubble without triggering a credit crunch. "Reversing these excesses, without giving rise to further nasty repercussions, is likely to prove difficult," he said. Jonathan Miller, Citywire's head of research, said: "Angus Tulloch's prudent approach stands out in falling markets. He usually lags rallies in this volatile area, but the focus on protecting capital leaves investors on a firm footing over the long term. Fidelity South East Asia Allan Liu, manager of the £2.2 bn Fidelity South East Asia fund, takes a higher-risk approach. Although China, Hong Kong and South Korea are his main country weightings, he eschews Australasia, preferring a pure play approach to the region. The fund has lost nearly 11pc in the past year, putting it towards the bottom of its sector. But it is likely to do well if markets make a sustained recovery. Over five years the fund has grown by 83pc. Mr Miller said: "This is a more aggressive pick for the Asia region, where Allan Liu favours growth-oriented companies. This means there is higher exposure to cyclical companies and the fund is usually among the leaders when the market is in recovery mode. Polar Capital Japan Under manager James Salter, this fund focuses on smaller companies more than the big multinationals that dominate the attention of many overseas investors. Its five-year return of 23pc looks modest but is actually second in its sector. Mr Miller said: "This fund isn't on the radar of many investors but the split between small, medium and large companies has consistently outperformed the Japanese market." To find the best picks for your Isa, visit citywire.co.uk/money/selection. Gavin Lumsden is editor in chief of Citywire Money