JP Morgan Asset Management has launched an Luxembourg-domiciled UCITS III Japan Market Neutral Fund based on an existing mandate.

According to the asset manager, the strategy has a low correlation with other asset classes and hedge funds.

The offshore fund - managed by Kaori Tsujino - aims to achieve an absolute positive return in excess of cash and through bottom-up stock picking.

Tsujino said opportunities were identified by comparing long-term earning forecass against current share prices.

She added, 'My commitment is to maximise and translate the benefit of such opportunities into the absolute positive returns of the fund.

'As an investment team, we believe in team work, and we share one goal to improve the effectiveness of our valuation signals.'

The JP Morgan fund will take long and short positions, and is benchmarked against the British Bankers’ Association LIBOR JPY Spot Next.

Minimum investment in the fund is $35,000 and it carries an initial charge of 5 per cent and annual management charge of 1.5 per cent.

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