Baring Asset Management has launched the Baring Asia Strategic Fund, a new addition to its range of single strategy hedge funds, to invest in Asian equities excluding Japan, but including Australasia and India. Managed by Baring Asset Management’s Asian equity team in Hong Kong, this new equity multi-strategy fund will be available to institutional and other professional investors. It is targeting returns in excess of 20 per cent per annum with a maximum volatility of 15 per cent and a strict limit on the portfolio Beta. The Baring Asia Strategic fund is available in both US Dollar and Euro Share Classes. It is domiciled in Ireland and listed on the Irish Stock Exchange. Subject to regulatory approval of the fund, it should launch on March 1. The annual management fee is 1.75 per cent and a performance fee of 20 per cent. The fund provides monthly liquidity with no lock up. The minimum investment is €125,000. Adrian Au, manager of the Baring Asia Strategic Fund, said: “The strategies employed will include thematic, directional, arbitrage, event driven, pairs trading and other liquid investment strategies that can produce uncorrelated returns. The portfolio will consist of approximately 50 diversified positions. The aim is to create a relatively beta neutral portfolio that is uncorrelated to the Asian markets and not dependent on directional bets.”