Following what it called “significant client demand” Schroders has to announce that it has launched the fund, providing investors with exposure to one of the world’s fastest growing major economies.

The fund, which was launched this month, aims to benefit from India’s structural reforms and the country’s rapidly-expanding economy, which is forecast to become the fourth largest in the world.

The firm says the Schroder India Equity Fund will use a bottom-up fundamental investment approach to invest in Indian, large, mid and small-sized companies, or those which have a substantial business exposure to India, bringing to the investor a concentrated portfolio of our best ideas.

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

“In 2012 we entered into a joint venture with Axis Asset Management following a 25% acquisition of the business. We are now able to offer our clients access to a UK domiciled fund managed by a first class team based in India.”

Domiciled in the UK, the fund builds on Schroders’ “existing capabilities” in India.

It will be managed by Schroders’ Asian Investment Team, in partnership with Axis Asset Management Company, which provides investors with a unique local presence and investment insight.

Jigar Gandhi, investment director for the Schroder India Equity Fund, 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.

“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.”