November 8, 2007 / 10:26 AM / 13 years ago

JF launches Asia "frontier" fund in Hong Kong

HONG KONG, Nov 8 (Reuters) - JF Asset Management said on Thursday it had launched an Asian frontier fund that would invest in less liquid markets such as Pakistan, Vietnam, Kazakhstan, Sri Lanka and Bangladesh.

The Hong Kong-based firm said the fund would use “prudent risk controls” and initially invest mainly in relatively liquid stocks in Pakistan and Vietnam, as well as Kazakh stocks listed in London.

It added that, in the future, the fund may also invest in markets such as Cambodia, Kyrgyzstan, Laos and Nepal when their local markets open up, or if indirect investment vehicles such as participation notes are available.

The fund will be managed by Mayur Nallamala, Rajendra Nair and David Smith, and charge a 1.5 percent management fee and 15 percent performance fee.

JF, which manages more than US$120 billion in the Asia-Pacific region, is part of the fund management arm of JPMorgan Chase & Co (JPM.N), which had US$1.2 trillion in assets under management at the end of September. (Reporting by Jeffrey Hodgson; Editing by Edmund Klamann)

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