A new fund is seeking up to £300m to invest in the emerging real estate markets of Vietnam and Cambodia. Financial Times

JSM Indochina, which is advised by Lehman Brothers, is seeking $400m-$600m (£202m-£304m) on London's AIM market.

Only one other London fund targets the Vietnamese market: Vinaland, which was the third-best performer out of London’s 50 or so listed overseas property funds last year, according Oriel Securities.

JSM Indochina is a closed-ended company based in the Cayman Islands. It will buy, develop and manage shopping centres and serviced apartments in cities, primarily targeting Ho Chi Minh City, its largest town, and also the capital, Hanoi.

It will also have exposure to other regions of Vietnam and neighbouring Cambodia.