Baring Asset Management has launched a Japanese hedge fund open to investment by charities.
But with a minimum investment of £136,000, the Japan Absolute Return Fund will in practice be an investment option for larger bodies only.
The fund has been created in order to take advantage of the recovery in the Japanese economy and changes in the ownership structures of Japanese corporations that make them more open to outside investment.
Joji Maki, head of Baring's Tokyo investment team, said: "Now is the time to invest in Japan. We believe that Japan has not fulfilled its potential in the past year and that there are considerable opportunities for investors on the ground."
The fund aims to achieve an absolute return. It has a target of 15 per cent a year, with a low correlation to the Japanese equity market.
Guy Davis, head of charities at Baring, said the fund would be too specialist for many charities, but added that it did offer diversification and access to a less common market with lower risk than other investment vehicles.