A London-based fund is offering adventurous investors the chance to participate in one of the last frontiers of global finance, through the soon-to-be launched $50m Chosun Development and Investment Fund dedicated to North Korea.

The communist stronghold – with its moribund economy, irascible regime and proud possession of nuclear weapons – might not seem like an obvious place to seek a return, but the fund’s managers say it offers rewards commensurate with the risk.