What is it?

An open-ended investment company (Oeic), akin to a unit trust, which will invest in Chinese companies trading on stock markets in Hong Kong, Singapore and on the Nasdaq, a US stock exchange. The fund will seek capital growth, rather than paying high dividends.

What is special about it?

The manager of the fund, Philip Ehrmann, has 16 years’ involvement with emerging market equities, including China. One of his last funds, Gartmore China Opportunities, was a top performer, although his Gartmore Pacific Opportunies fund was more pedestrian.

What are the plus points?

Mr Ehrmann believes that the second leg of China’s spectacular economic growth will rely on domestic demand from middle-income families. Industries such as travel, telecoms and environmental services will be of particular interest, he says.

What are the downsides?

Gary Potter, who manages Credit Suisse Multi Manager Emerging Markets, which buys stakes in other funds, says that Mr Ehrmann has a pretty good record. However, he worries that his new fund may be too concentrated on China for many investors.

Mr Potter says: “Philip Is a fairly shrewd and sensible investor and he probably won’t overfocus the portfolio. It Is a welcome addition to the market, but it’s like a football team: the new fund will be a useful reserve player.”

The verdict

Thumbs down, for now. Mr Potter will review Jupiter China in February, when it has a few months’ performance under its belt.

For fund prices visit www.timesonline.co.uk/funds

Times Recommends

• How to profit from your holiday
• Is there anywhere left to make money?
• 10 sites that could change your life