The fund is likely to open in the third quarter of this year.
"The fund manager that we are talking to at the moment has got a reputation within Asia and has a growth style," Zurich Investments general manager Matthew Drennan said.
"We think there is a good combination to be had with the growth that can be had locally, but expanding that universe so that we can pick up on some of the growth opportunities in those developed Asian markets as well."
The new fund would be set up as a separate product, but Drennan said he was also considering bringing the strategy into Zurich's diversified fund range.
The new fund would invest in established Asian markets such as Hong Kong, South Korea and Japan, but not in the more volatile exchanges of Thailand and Indonesia.
