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.
The reason there are so few open-end funds focused on India, said Dan Lefkowitz, an analyst with Morningstar, is because the lack of liquidity in the stock market there leads most investors to closed-end India funds.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.