During its earnings call last week, U.S. Global Investors indicated that the company is considering launched an infrastructure fund, the San Antonio Express-News reports.

The fund apparently would invest in utilities, construction companies, steel manufacturers and other publicly traded companies involved in building and infrastructure.

“We’re looking at how to create some type of infrastructure product because that’s where global growth is coming from,” said U.S. Global CEO Frank Holmes. Already, a number of the company’s growth funds focus on energy and commodities, so an infrastructure fund would be an extension of that.

Holmes said that emerging markets are going to spend $1 trillion and the U.S. $1.6 trillion in infrastructure over the next two years, and between 2006 and 2010, China will spend nearly $400 billion.

“It is very common in other parts of the world and even some other states for investment funds to participate in investment projects,” said Vicky Waddy, a spokeswoman for Zachry Construction, a company that builds infrastructure products in the U.S. and throughout the world.

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