The Cayman-based fund has achieved positive returns for all of its first six months. It aims to reduce volatility by making use of a number of investment strategies, although the Hedge Select Fund primarily invests in long-short equity Asia-Pacific hedge funds.

Commenting on the fund's success over the past six months, head of the alternative investment committee at Baring Asset Management, Tom Maier explained that:

"We believe that Asia, including Japan, still offers some of the most attractive, but often mispriced investment opportunities in the world. This is fertile ground for hedge fund managers to exploit a variety of strategies.”

He added: “The first phase of the Asian bull market may be over, but the long-term investment case remains compelling. Although it is too early to predict a boom in Asia, there is a chance one could begin to emerge from the middle of next year.”