Indian asset manager Kotak Mahindra (UK) has set its sights on the UK market as interest in the developing economy surges on the back of recent market strength.

The asset manager currently offers four offshore funds to UK investors, including the Indian Multicap, India Infrastructure Realty, India Growth and Indian Mid-Cap funds.

Nitin Jain, principal fund manager at Kotak Mahindra UK, said it was aiming to consolidate its current position in the UK market.

However, Jain said the asset manager was not looking to ‘add [new] products for the sake of it’.

The two longest-running funds Kotak India Growth and Kotak India Midcap would have returned £2,125 and £1,738 over five years, based on £1,000 income reinvested basis.

The asset manager is also looking at bringing an exchange-traded fund (ETF) to the UK retail market.

It currently offers a number of Indian-domiciled ETFs, including a Gold; PSU Bank, a financials-tracking product; and a Sensex product, tracking the Bombay Stock Exchange.

Its most recent ETF launch was in February with the Nifty ETF, which tracks the CNX Nifty Fifty index.

Jain predicted an increase in the number of fixed income products being launched in the future, as the asset class becomes more accessible to investors in the Indian market.

As well as the UK retail market, the Indian asset manager has also set its sights on the US mutual fund industry.