The fund aims to utilise the expertise of Mumbai-based ASKRJ in investing in the Indian economy, regarded as a 'geographical area of huge opportunity' by ACMH.
Florian Homm, CIO of ACMH said: "In our opinion, India is poised to embark on a long period of sustained economic growth.
"Fundamental economic reforms and major investment are producing fantastic investment opportunities."
Bharat Shah, CEO of ASKJR, hopes to employ his experience of Indian investment and local company knowledge to invest in quality undervalued Indian businesses.
"I am convinced that India will add more wealth in the next ten years than it has added in the last 50," said Mr Shah.
"It is now perfectly placed to provide robust market growth for the next few years."
Since the late 1980s, India has opened its markets to the outside world and has been encouraging foreign investment and economic growth, making it one of the fastest growing economies in the world.
Traditionally a popular place for outsourcing, the focus may now be shifting to India's indigenous businesses for investment.