Vietnam-based asset manager VinaCapital is launching the frontier market’s first fixed income fund today as it seeks to attract foreign investors bruised by one of the world’s worst performing stock markets and aims to take advantage of current high interest rates.

“We need to bring a new asset class to investors [in Vietnam]. The volatility of the Vietnamese economy and stock market has left investors with a sour taste,” said Andy Ho, head of investment and co-fund manager at VinaCapital Investment Management.