Former Macquarie Group fund manager Gerald Kok is reportedly planning to launch a new hedge fund that will invest in Asian and US companies.

Known as GSK Global Fund, the hedge fund will focus on companies that have share prices at a significant discount to their fair value, reported Bloomberg.

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The fund will invest in stock-related securities such as convertibles and options and seeks special-situation stocks that are priced below their fair value.

The fund will be launched with an initial seed capital of $10 million provided by Kok and Xiao families, as well as other high-net-worth individuals and industry contacts.

Susan Xiao business partner at Singapore-based G&S Asset Management said that he is also planning to launch a different fund later in the year.

Kok said that both the funds will have a combined $10 million of assets under management.

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The launch of the new hedge fund comes as low interest rates globally help bolster stock markets.

Kok said: "We will be flexible and go where the compelling investment opportunities. While we prefer to have catalysts in our investments, it is not absolutely necessary as long as it’s cheap enough.

"There might be even more subtle situations, such as changing management incentive metrics to be more aligned to shareholders’ interests that might boost a company’s share price," he added.

Kok most recently served as vice president at Macquarie in Singapore. Prior to this, he worked at Credit Suisse Group’s investment-banking division as well as at Gruss Capital Management in Hong Kong.

Previously, Xiao served as a fund manager with Prosperstone Capital and also worked as a research director at Ellis Munro Asset Management and as a research manager at Target Asset Management.