Buy Indonesia and the Philippines in the middle of a trade dispute between the United States and China

As the US-China trade struggle continues, investors are increasingly looking to move their money to less isolated areas of the conflict.

To avoid being hit by the tariffs that the two economic powers imposed on their respective products, importers from both countries sought these products in areas not subject to customs duties.

As a result, Andrew Gillan, head of Asian equities at Janus Henderson Investors in Japan, said he was looking at Southeast Asia, where some countries were benefiting from the dispute as trade flows receded.

He notably recommended markets such as the Philippines and Indonesia, which he described as "a little neglected but still growing at very high rates".

At Wednesday's close, PSE composite indices in the Philippines and Jakarta in Indonesia grew by more than 10% and 3% for the year, respectively.

"We love these markets," he told CNBC's "Street Signs" show on Wednesday. "We have maintained our positions in the Philippines in recent years, but … we are pleased to have a significant overweight."

Mr. Gillan also singled out the Indonesian financial sector, where stocks "have, over the last ten years, generated truly long-term structural growth and maintained … a high return on equity". The outgoing country of South-East Asia, Joko Widodo, was recently re-elected for a second term.

However, investors must stay away from North Asia, he said.

Gillan is currently seeking to "turn away" from North Asian markets, such as China, and even from Taiwan and South Korea, the latter two being an important part of the global supply chain. Big Apple supplier Hon Hai Precision Industry, better known as Foxconn.

The commercial struggle between Washington and Beijing has spread to the technology sector, with the United States accusing China of forced technology sharing. Restrictions on the sale of US technology to China have also prompted Beijing to develop greater autonomy, including developing its own chips.

While Vietnam was honored as a beneficiary of the US-China trade war, Mr. Gillan highlighted the difficulties of investing in its markets despite its attraction.

"There have been a lot of changes in the manufacturing industry not only recently because of the trade wars, but a lot of companies have already moved to Vietnam a few years ago because of … the cost competitiveness, "he said.

The VN benchmark rose about 10% for the year, to Wednesday 's close.

Nevertheless, accessing the Vietnamese stock market is "very difficult," he said. Limits on foreign ownership are imposed on "many of the country's most attractive shares", forcing foreign investors to pay a premium of up to 20% or more over ordinary shares.

Gillan added that, in addition, investors could access Vietnam in several ways, for example by investing in Thai companies expanding their presence in the country.