Standard Life Mutual Funds Ltd. announced today that it is launching the Standard Life India Equity Focus Fund, to capitalize on opportunities in India’s fast growing economy.

The fund is part of a wider launch, which also includes a T-series for 10 Standard Life existing funds, as well as two new Portrait Portfolio fund-of-funds — Dividend Growth & Income Funds and Global Portfolio.

“I believe the new Standard Life funds further address four key concerns expressed by investors; namely diversification, risk management, income-producing solutions and tax efficiency,” says Denis Berthiaume, senior vp, retail markets of Standard Life.

With a young, educated and increasingly wealthy population driving its economy, India is one of the world’s largest and fastest growing markets offering significant investment opportunities.

“The Standard Life India Equity Focus Fund is an excellent way to participate in this extraordinary growth. The fund can leverage Standard Life Investments’ global expertise in fund management and its established partnership in India,” adds Berthiaume. “This is also a true representation of the company’s global reach.”

The fund will be managed by Standard Life Investments Limited (SLI) in the UK, recognized globally for its rigorous investment process and steady performance. SLI has appointed its joint venture company in India, HDFC Asset Management Company (AMC), as its investment advisor to identify, research and recommend companies for investment. The fund will focus its investments in 20 to 50 companies.

HDFC AMC is one of the largest asset management companies in India, with over 40 offices in the country.

Standard life also announced that 10 Standard Life mutual funds are now available as part of the T-series, for investments starting at $1,000. This option enables investors to receive predictable, tax-efficient monthly income. The distributions are made up, in part, of return of capital, which allows for deferral of taxes.

Standard Life is also adding two new funds to its family of Portrait Portfolio Funds: Dividend Growth & Income Portfolio and Global Portfolio. The Portrait Portfolio Funds now offer six pre-packaged portfolios that take into account risk tolerance, investment objectives and time horizon.