Aditya Birla Sun Life Asset Management, the Singapore-based asset management arm of Indian fund house Birla Sun Life AM, has launched a new fund geared toward foreign investors.

The India Dynamic Bond Fund is an open-ended fixed income feeder fund that invests in the Birla Sun Life Dynamic Bond Fund, which focuses on high quality debt and money market instruments. It is available in US dollars. BSL BDF has at least $2.7 billion in assets under management and is the firm's flagship fixed income product.

"The Indian debt market's ability to deliver good yield makes it an attractive investment destination for major global institutional and professional clients looking to invest in debt instruments, especially in the short to mid-term horizon," said A Balasubramanian, chief executive of Birla Sun Life Asset Management.

Aditya Birla Sun Life AM was set up in Singapore in 2010.