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As revealed by Investment Adviser in March, the fund sits within JPMAM’s Luxembourg-domiciled Sicav range and is managed by New York-based Leon Eidelman.

The fund mirrors the firm’s existing Japan-domiciled £88.2m Emerging Infrastructure Equity fund, which was launched in December 2007.

The firm said it would allow investors access to one of the most compelling themes in the emerging markets.

Figures from Morgan Stanley suggest infrastructure spending in emerging markets will reach £21.7tn over the next decade, as urbanisation and globalisation create demand for improved services and support networks.

The 80-120 stock portfolio will invest in companies positioned to benefit as governments and businesses build the necessary roads, railways, ports and power plants to fuel emerging market growth.

Eidelman employs a bottom-up structured quantitative process to make meaningful comparisons across markets and identify companies with market-leading characteristics.

The fund will utilise JPMAM’s 52-strong team of emerging markets experts, based in local markets across the globe providing fundamental validations.

The fund has a purpose-built benchmark, allowing it to gain varied exposure to the infrastructure theme, from raw materials to construction, real estate to air freight.

It invests across seven sectors, including energy, materials, capital goods, transportation, real estate, telecommunication services and utilities.

Claire Simmonds, client portfolio manager for Emerging Markets at JPMAM said: "Bolstered by the commodities boom and by improved fiscal policies, emerging economies have large current account surpluses and dramatically improved international reserves, giving them the spending power to invest in the infrastructure needed to support future economic growth."

From launch on 12 December 2007 to 28 April 2008, the Japan-domiciled JPMorgan Emerging Infrastructure Equity fund has returned 1.8 per cent, outperforming the Morningstar GIF Equity Global Emerging sector, which fell by 0.5 per cent. The fund is ranked eighth out of 27 funds in the peer group, according to Morningstar.

The fund will initially be launched as a Luxembourg-domiciled Sicav, but Mr Eidelman said there were plans to create a UK onshore offering as well.