Ignis Asset Management has unveiled a new Luxembourg-domiciled Ignis Absolute Return Emerging Market Debt fund, which will be run by Dan Beharall, head of emerging markets fixed income.

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Beharall, who has joined Ignis from Henderson in December 2010, will work alongside deputy Sailesh Lad and market analyst Mikhail Volodchenko to manage the new fund.

The Sicav Ucits fund will be seeded with an initial capital of $100m (£61m) and distributed across Europe including the UK.

The fund launch is based on the existing institutional mandate strategy, which the firm has been managing since January 2012.

The fund with a performance fee of 10% and management fee of 0.90%, targets to offer a positive total return in excess of cash on a rolling 12 month basis in all types of bond market conditions.

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The fund has a clean share class with an annual charge of 0.55%.