Reliance Capital Asset Management (RCAM) has collaborated with British specialist funds distributor Cohesion Investments to launch its first Ucits vehicle for the UK market, dubbed India Equities Portfolio Fund (IEPF).
The Luxembourg domiciled fund is aimed at discretionary management market and will be advised by RCAM CIO Sunil Singhania.
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The newly launched fund, which charges an annual management fee of 1.25%, has been introduced with assets of $50m and will target around 40-50 stocks across all market caps.
Commenting on the launch, RCAM CEO Sundeep Sikka said: "As an onshore India-based fund manager, and India’s leading mutual fund, we always have our ear to the ground – as such we believe we are far better placed to spot tomorrow’s big investment stories than our peers in London or New York.
"It is the right time to be bringing our capability and experience in the Indian markets to UK investors, and we could not be more pleased than to be doing so in partnership with Cohesion Investments."
Cohesion founder and CEO Spike Hughes: "India is the fastest-growing major economy in the world, projected to become the world’s third biggest economy after the US and China – a structural and diverse long-term growth story with many indisputable drivers."
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