BlackRock has launched the BlackRock Asia fund to act as an onshore mirror of the existing offshore BlackRock Global Funds Asian Dragon fund.
The BlackRock Asia fund will be managed by BlackRock head of Asian fundamental equities team Andrew Swan, who already works on the £470.2m Asian Dragon fund.
Targeting 50 to 80 holdings, the BlackRock Asia fund will invest in companies domiciled or operating in Asia excluding Japan.
Swan says: “Asian equity valuations are below their long term averages making for an attractive entry point for long term investors.
“And fundamentally, the profound changes taking place in consumption, income growth and demographics are reshaping their investment landscape in Asia.”
Swan took over the Asian Dragon fund in October 2011 and has since produced net returns of 36.1 per cent, outperforming the benchmark return of 26.38 per cent.