A new Bermuda ILS (Insurance Linked Securities) fund manager, Eastpoint Asset Management, has launched a new $40 million ILS fund aimed at Asian investors.The Asuka ILS Opportunities Fund is to be administered by ILS Fund Services, the joint venture between Bermuda’s Horseshoe and ISIS fund services.Eastpoint Asset Management is backed by Asuka Asset ManagementChief executive Masahide Kitade, a former Aon Asia and Mitsubishi Corporation executive said: “We are targeting Japanese and Asian investors. They are are are becoming more and interested in ILS investment as sophisticated alternative investment but they have to look across the world to find the best opportunities. I understand that overall share Asian investors in the ILS space is still said to be less than five percent therefore we believe this is considerable opportunity to us through collaboration with Asuka Asset Management.”This is the first ILS fund offered by Asuka Asset which began managing assets in 2002 and now oversees approximately $700 million in assets for institutional investors in Japan and Asia.