Amundi, the asset management joint venture of Societe Generale and Credit Agricole, has bolstered its Hong Kong business with the launch of a new equity fund.

The Amundi HK - New Generation Asia-Pacific Equity Dividend Fund is designed to take advantage of the rapid growth in Asia-Pacific through four basic principles, or what it calls the 4Ds: dividend income, disciplined stock selection, diversified portfolio and dynamic risk management. It aims to give investors an annualised monthly dividend rate of 4 per cent. 

The fund is domiciled in Hong Kong and managed by Ayaz Ebrahim, chief investment officer, Asia ex-Japan equities at Amundi Hong Kong. 

"Contributing more than 50 per cent of global growth, in addition to billions of middle-class consumers in decades to come, Asia-Pacific has become a permanent theme in investment and self-sustaining market," said Xiaofeng Zhong, chief executive of Amundi North Asia, in a statement. 

The Amundi HK New Generation Fund is the Asia-Pacific version of the firm's NextGen equity investment philosophy in Europe, where it is one of the largest asset managers. As at 30 June 2013, the NextGen brand has reached $7.1 billion in assets under management. With the addition of the new fund, Amundi Hong Kong has a total of 34 funds authorised by the Securities and Futures Commission.