Stewart Investors has launched an Irish-domiciled VCC version of the Indian Subcontinent Sustainability Fund, managed by Sashi Reddy and David Gait.

The OEIC strategy was launched in 2006 and currently has $627m in assets under management for global clients.

Joining the group’s existing global suite of sustainability funds, the Irish-domiciled VCC will be available to investors in UK, Europe, Switzerland and Asian markets Singapore, Hong Kong and Japan depending on the share class and investor level.

Like its OEIC mirror, the fund us a long-term, equity-only fund, investing in high-quality companies across the Indian subcontinent that are positioned to contribute to, and benefit from, sustainable development, said Stewart Investors in a statement. It holds 30-60 stocks and the current top holdings are Mahindra & Mahindra, CG Power and Tube Investments.

Portfolio manager Gait said: “The Indian subcontinent is home to some of the world’s biggest sustainable development challenges. The region will have no choice but to leapfrog many of the phases of development the west, or even China, have endured. The private sector has an important role to play in this journey, making the region an attractive destination for long-term capital. Nowhere is the link between sustainable development outcomes and investment returns more clear than it is in the Indian subcontinent.”