BNY Mellon Investment Management has partnered with Maybank Asset Management, a subsidiary of Malaysia-based Maybank, to jointly launch a new Asia small-cap fund.

The newly launched fund, known as BNY Mellon Asia Rising Stars Fund, will combine the expertise of BNY Mellon’s Japan small-cap and the Maybank’ Asia ex-Japan small cap teams.

Under the partnership, BNY Mellon’s Japan business will manage the Japanese small-cap equities portion and Maybank’s Singapore operation will manage the Asia ex-Japan small-cap portion.

The fund will focus on firms with a market cap below $5bn, and aim to provide capital growth through investment primarily in Asian small cap firms which are listed on recognised Asian exchanges, including Japan.

BNY Mellon Investment Management operates in 35 countries, serving more than 100 markets. As of 31 December 2016, the firm manages $1.6trillion in assets under management.