Australian fund managers are being wooed to put money into a new tollroad investment trust with mouthwatering yields, in a world where global investors are increasingly confronted with zero or even negative interest rates.

Last week, IRB Infrastructure Developers chairman and managing director Virendra Mhaiskar visited Australia to market a new fund – the IRB InvIT Fund.

Vehicles sit in traffic on a road shrouded in haze in New Delhi. Managed funds getting involved in tollroad assets in India. Credit:Kuni Takahashi

It's India's first, which is seeking to raise an initial 43 billion rupees ($850 million). The fund will hold a series of tollroads developed by IRB, which will have a cornerstone 25 per cent stake.

The prime attraction, however, is the yield of around 9 per cent, a handy premium over so-called "masala bond" offerings, which are rupee-denominated offshore issues by Indian borrowers where the yield is about 8 per cent.