More than £50m has been invested in Baring Asset Management's Directional Global Bond Trust since its launch three months ago.
The firm says the fund is attractive to institutional investors, such as charities, because it is able to make money in rising and falling market conditions.
Keith Wilson, head of UK intermediary sales at Baring, said: "The Directional Global Bond Trust is a compelling investment story that is generating high levels of interest from investors. It is able to go short on both currencies and bond duration to deliver positive absolute returns, whichever direction the market moves. After only three months, the fund is up while its peers are down."
The fund has delivered a positive return of 3.5 per cent in the last quarter, compared to a bond sector average of -3.5 per cent.
It aims to offer a return of approximately 8 per cent a year after charges.