Isle of Man-based Rivington Street Holdings subsidiary TIM (t1ps Investment Management) has launched a new fund to invest in small to medium-sized Indian companies.

TIM’s senior fund manager Tom Winnifrith believes that Indian GDP growth will outstrip that of the UK over the next 20 years.

There are “fully developed plans,” says Winnifrith, to open an office in Mumbai by January 2012. This will become the base for its fund management, media and software activities within India.

The new fund is a standard unit trust which will invest in Indian companies with a market capitalisation in the range $50-$750 million, seeking to deliver long-term capital growth.