ICICI Prudential Asset Management, one of the largest asset management firms in India, has launched a new fund that caters to Indian investors looking to invest in global equities.

ICICI Prudential Global Stable Equity Fund is open to Indian investors from 27 August to 10 September 2013 and requires a minimum ticket size of Rs5,000 ($75). The money will then be invested in a global equity fund managed by European financial services firm Nordea Asset Management.  

"Indian equities represent around 2 per cent of the world's equity assets, leaving 98 per cent as untapped potential for Indian investors. The fund will be a good way for Indians to diversify their portfolios," said Ian Polack, chief executive, in a statement.

Nordea has around 11 million customers in the Nordic region. As at 30 June 2013, the company records €621.9 billion ($824.9 billion) in total assets.