JP Morgan Asset Management, the US-headquartered financial services firm, has launched a new equity fund that aims to ride on growth in the Asia ex-Japan region.

The new JPMorgan Asia Equity Dividend Fund invests mainly in a portfolio of selected Asian stocks and real estate investment trusts that are expected to pay relatively higher dividend yields. It is available in multiple currencies, including the US dollar, Hong Kong dollar, Australian dollar hedged, Canadian dollar hedged, Euro hedged, British Pound hedged, New Zealand dollar hedged and Singapore dollar hedged classes.

"The fund may help investors compensate for today's low interest rate environment by being an alternative source of income," said Terry Pan, head of the Hong Kong business at JP Morgan Asset Management.

The fund is managed by Jeffrey Roskell. The minimum subscription amount is $2,000.

JP Morgan Asset Management has some $85 billion in funds under management across the Asia-Pacific region.