British fund manager Schroders has unveiled an Indian equity fund targeted at UK investors, in association with Axis Asset Management Company (Axis AMC).

Schroders has a 25% stake in Axis AMC since 2012.

The new vehicle, dubbed Schroder India Equity Fund, is domiciled in the UK.

It will offer exposure to large, mid and small-sized firms in India utilising a bottom-up fundamental investment approach.

The strategy will also invest in those businesses that have a substantial exposure to India.

Schroder India Equity Fund investment director Jigar Gandhi said: “The Indian economic growth story is impossible to ignore with the economy set to become one of the world’s largest over the coming years.

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“With our Axis partnership, Schroders has a team on the ground in India, which gives a distinct advantage in this rapidly emerging market.

“We are confident that, in partnership with Axis AMC, this fund will provide Schroders’ clients  with the opportunity to benefit from robust returns generated from investing in this exciting and fast-growing market.”

The new fund will be jointly run by the Asian investment team of Schroders and Axis AMC.

Schroders head of UK intermediary business Phil Middleton said: “We have significant experience of investing in India, having invested in the region since 2006 through the Schroder International Selection Fund Indian Equity.”

Some of Schroders’ recent fund launches include target date funds for Canadians, a China A-Shares fund, and a multi-strategy fund.