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The fund is Luxembourg-domiciled and managed by Paul McNamara and Caroline Gorman from Augustus Asset Management, which has a five-year contract to manage the fund.

The vehicle invests in emerging market bonds denominated in or linked to local currency.

It gives UK investors access to emerging economies in Latin America, Central and Eastern Europe, the Middle East, Africa and Asia. Currently the fund’s largest exposures include Mexico, Brazil, Columbia and Hungary.

The fund was originally launched in 2000, since when it has returned 154.9 per cent and outperformed its peer group by 9.2 per cent over the five years to 31 July.

McNamara said: "Emerging markets are structurally appealing to all investors, and as we focus on currency and debt this is a clearer and purer play then just investing in the markets by themselves.

"As emerging economies continue to develop, well-run domestic companies will be able to profit from developments in local infrastructure, rising commodities and increased trade with overseas countries."

He added: "There is a wide divergence in the political and economic stability of emerging economies, so it is important that investors select a fund manager with the right experience, skills and risk management procedures to identify investments which offer a suitable risk-return profile."

Other countries McNamara said he was particularly bullish on included Turkey and the Czech Republic.

"We try to favour countries with a long-term story. The commodities boom has been a recent boost to many emerging markets, but we're looking at the structural picture and taking steady steps forward."

Julius Baer opened its first London office in June and recently made its $170m (£85m) Northern Africa fund available to UK investors following approval from the FSA.

The marketing campaign for the Emerging Bond fund is being handled in London by the newly-created Julius Baer Investment Products team, who will mainly be targeting investors such as high net-worth individuals, insurers, investment banks and fund of funds groups.