U.S. Global Investors is planning a new fund that will invest in India and the neighboring region, joining only two open-end funds that currently have such a specialty, The Wall Street Journal reports. Charlemagne Capital, a U.K. investment manager that specializes in emerging markets, will sub-advise the fund.

Eighty percent or more of the fund will be concentrated on companies in India, Pakistan, Sri Lanka and Dubai. The fund will become the fifth member of U.S. Global Investors' U.S. Global Accolade Funds group.

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