Nassau and Miami-based Magnum Fund Management has teamed up with Hong Kong's Baron Asset Management to launch an onshore fund focused on mainland China. The BM Greater China Asia Fund, a long/short equity vehicle, is an onshore version of an offshore fund, which has been available since 2004. Magnum's existing onshore greater China fund is worth $24 million and has returned 22.8 per cent over the last 12 months. The firm has a total of $300 million under management. The new fund charges fees of 1.5 per cent on management and 20 per cent for performance and there is a minimum investment requirement of $250,000.