Hedge fund shop Lionhart has launched an Asian multi-strategy vehicle to take advantage of the region’s volatility. 

The Asia Plus Partners Class A fund focuses on relative-value strategies, including merger arbitrage, intra-sectoral pairs-trading, capital-structure arbitrage and other related long/short strategies. The fund will use proprietary technical and quantitative screens in its selection of trade ideas, according to the firm, and will also employ a fundamental bias based upon sector and company analyses.

Portfolio manager Terence Duffy “believes that the current market environment, characterized by investor uncertainty and extreme volatility, will offer attractive trading opportunities for the fund,” the firm said.

The fund, which debuted in April, finished its first three months of trading down 0.71%.

Asian hedge funds managed $100.5 billion at the end of the second quarter, a paltry 0.25% increase compared to the first quarter, according to Hedge Fund Research. Performance losses totaled nearly $320 million, as Asia ex-Japan funds fell 2.2% on the quarter (down 13.8% year-to-date) and Japan-focused funds gained 4.8% (down 7.1% YTD).

Asia Plus Partners charges a 2% management fee and a 20% incentive fee with a $1 million minimum investment requirement.