In addition to eligibility for ISAs and onshore bonds, the new structure will have the advantages of daily dealing, reduced investment minimums and capital gains tax treatment for UK investors.

The fund, scheduled to open to investments in March 2009, brings together a multi asset investment approach, incorporating eight asset classes, both traditional and alternative, together with very low cost investment methodology.

Since launch in September 2005, the offshore MAP funds have grown to approximately USD300m of assets under management.

The launch comes in response to strong demand from UK-based intermediaries and wealth managers.

The fund is being established as a non-Ucits retail scheme which will support a broad range of investor types. It is based closely on the investment approach of the MAP Fund which provides diversification within and across eight asset classes: global equities, global fixed income, emerging equities, emerging fixed income, real estate, commodities, hedge funds, and managed futures.

'We are very excited about the launch of our onshore MAP fund,' says Frontier Capital founder and chief executive Mike Azlen (photo). 'We now have a large number of committed IFAs and wealth managers in the UK who have embraced our investment philosophy of broad diversification and low cost indexing. With the launch of a daily dealing, fully regulated fund in the UK we can now provide our clients with a fund that is capital gains tax efficient.'

Frontier Capital Management was founded in London in 2004 and manages a range of multi asset and alternative funds.