SINGAPORE: Fullerton Fund Management, a unit of Singapore's Temasek Holdings, has launched a new fund together with Japan's SBI Holdings.

The Fullerton Asian Financial Fund, which targets Asia's financial sector, has already seen an initial commitment of US$60 million.

It is looking at raising up to US$100 million by May 2009.

According to Fullerton, the new fund is positioned to benefit from Asia's growth for the long term.

Fund managers for the firm are eyeing companies that have been mispriced and continue to hold strong fundamentals.

- CNA/yt