Generali Investments, the European asset management firm, is set to launch a new Asia-based fund that will target government and corporate debt.

The GIS Asia Bond fund will be part of the company's existing SICAV range and will be managed by its Hong Kong arm, Generali Investments Asia. The new fund will consist of government and corporate bonds, denominated in the currencies of eight Asian countries: China, Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, South Korea and Thailand. Following a long-term oriented investment strategy, the fund aims at generating a 1 per cent extra-return versus the investment universe, it said in a statement.

The GIS Asian Bond will be led by Hong Xie, head of fixed income at Generali Investments Asia. Xie joined the company in 2011 from China Investment Corporation, where she was a fixed income portfolio manager. 

Hong Kong is the investment hub for the Italian firm's assets in Asia and specialises in investment advisory and fund management.