Russell Investments, a US-based asset manager, has launched a Dublin-domiciled Emerging Market Debt Local Currency fund - managed by Stone Harbor Investment Partners and Pictet Asset Management.

According to a statement, the fund gives investors access to local currency emerging market debt - an area the firm believes is of "significant growth" - and a market with "attractive" yields and the potential for currency appreciation.

"There has been a great deal of change in the world of emerging markets investment and there is strong investor interest in the local bond markets," said James Mitchell, portfolio manager.

The fund is benchmarked against the JP Morgan GBI-EM Global Diversified Index.

Russell Investments had $159.1 billion in assets under management at end-September.