The fund is likely to be launched in the next couple of months, Sandesh Kirkire, CEO, Kotak AMC, said, adding, the fund can be of a size of $150 million, as per SEBI regulations.

"We will be filing our application with SEBI within the next couple of days," he said.

T Rowe Price fund invests primarily in a widely diversified, global portfolio of transferable equity and equity-related securities of companies established or conducting a significant proportion of their business activities in the emerging countries of Latin America, Asia, Europe, Africa and the Middle East.

The fund, he said, is expected to outperform the MSCI Emerging Markets Index over the medium-to-long-term.

"Kotak AMC is proud to introduce a fund which will provide existing investors and potential investors the opportunity to participate in global market. It will help domestic investors with small sums access global markets," Kirkre said.

T Rowe Price is one of the world''s leading independent investment management firms and is based in Baltimore, US.

Kotak Mahindra had a 10-year brokerage alliance with Goldman Sachs, which ended about a year ago.

Goldman Sachs ended its 10-year brokerage alliance with Uday Kotak in March 2006, to start its own financial services firm in India. Goldman sold its 25 per cent stakes in two ventures with Kotak Mahindra Bank Ltd.