Mr Bajic, who will take on his new role from 30 December 2016, replaces outgoing Colonial First State Global Asset Management (CFSGAM) head of Australian equities growth Marcus Fanning, who is set to depart the business in June 2017.
CFSGAM chief investment officer for equities David Dixon said this was the culmination of a succession plan that started with Mr Bajic's appointment as deputy head in 2014.
"Since then, Marcus, Dushko and I have carefully mapped out the milestones that indicate the team is best placed to successfully manage their portfolios and continue to generate attractive returns for their clients post the leadership succession,” he said.
Mr Bajic has over two decades' worth of experience in the domestic equities market, and CFSGAM said he was "well positioned" to carry the business' investment philosophy forward.
Mr Dixon said Mr Bajic would be an "excellent successor" to the outgoing Mr Fanning, whom he thanked for his "significant contributions" to the business.
