Kotak Mahindra UK, a subsidiary of India's Kotak Mahindra Bank, has launched the Indian Multi-cap Fund for investing in Indian equities with a multi-cap strategy.

This Luxembourg registered open ended SICAV, which will be managed by Kotak Mahindra UK (KMUK), is a multi-cap fund from the stable of an asset manager focused on India investments, to be made available to investors across Europe through a wide network of distributors.

To achieve long term capital appreciation by being invested in equity and equity linked instruments of companies registered and listed in India, this daily traded fund will aim to invest across the market capitalization spectrum with a bias towards large and medium companies.

Paul Parambi, head of international business at Kotak, said: Our international business focuses on providing value creating solutions to international investors seeking to invest into India. India is shaping up as an exciting investment destination and we have seen a surge in interest in India among investors from this region.

The creation and launch of our first SICAV fund from Luxembourg confirms Kotak’s commitment to Europe. This fund will provide a launch pad for new initiatives in this region. With our vast experience and stock picking strategy, we aim at giving European investors a slice of the India growth story.