Harvest Fund Management, the Chinese asset management firm, has entered into a joint venture with its international subsidiary and a group of industry veterans to launch a new fund that sells Asian mutual funds to the US market.

Harvest Krane is a result of the partnership among Harvest, Harvest Global Investments and Jonathan Krane and his team and specialises in distributing China and Asia-focused mutual funds to US clients. The first offering is Harvest Funds Immediate Bond Fund, designed to seek long-term total return by combining capital appreciation and current income by investing in investment grade and high-yield China bonds. 

"We are excited to enter the US market. We have created a platform that allows US investors to diversify into the long-term growth trends in the Chinese and Asian economies through funds managed by Harvest professionals based in China," said Henry Zhao, chief executive of Harvest Fund Management, in a statement.

Harvest Fund Management is one of the largest China-focused firms with around $50 billion in assets under management and some 8 million clients. Harvest Krane is headquartered in New York.