One new Asia-focused hedge fund has so far managed to skirt the woeful slide afflicting its peers in the region.

Bronte Investment Management’s Asia Pacific Fund debuted on Aug. 1 and has returned 0.35%, Asian Investor reports. It might not seem like much, but the average Asia-focused fund is down by double-digits this year.

Bronte’s strategy features bottom-up fundamental stock-picking, with a country-analysis overlay. The fund typically includes between 50 and 80 names, with gross exposure of between 80% and 150%. The fund charges a 2% management fee and 20% performance fee with a high-water mark. There is no lock-up period and the fund features monthly liquidity.

Singapore-based Bronte was founded by Morgan Stanley veteran Paul Kitney. At Morgan, he ran pan-Asian long/short equity strategies from New York, Tokyo and Hong Kong. The firm also features Michael Phang as trader and risk manager, Creo Capital veteran Robyn Sim running operations and administration, and former Abacus Capital equity analyst Irvine Chiam as an analyst. Kitney plans to add two other analysts to the team.