[FRONT OF INSERT]
Supplement to The Oxford Club
A $10,000 INVESTMENT MADE 5 YEARS AGO
IN THE U.S. WORLD GOLD FUND IS NOW WORTH $21,198.76.
SUPERIOR PERFORMANCE
[MOUNTAIN GRAPH PLOTTED FROM DATA IN TABLE BELOW]
<TABLE>
<CAPTION>
U.S. WORLD GOLD
GOLD FUND BULLION
---------- --------
<S> <C> <C>
6/28/91 ............................. 10000 10000
7/31/91 ............................. 9850.681 10029.88
8/30/91 ............................. 9431.233 9033.864
9/30/91 ............................. 9634.849 9173.307
10/31/91 ............................. 9704.078 10099.6
11/29/91 ............................. 9944.345 10159.36
12/31/91 ............................. 9587.338 9721.116
1/31/92 ............................. 9613.129 9960.159
2/28/92 ............................. 9585.98 9820.717
3/31/92 ............................. 9276.484 9133.466
4/30/92 ............................. 9131.237 8266.932
5/29/92 ............................. 9162.73 8934.263
6/30/92 ............................. 9322.637 9452.191
7/31/92 ............................. 9714.937 10000
8/31/92 ............................. 9230.602 9760.956
9/30/92 ............................. 9474.942 9760.956
10/30/92 ............................. 9210.241 9362.549
11/30/92 ............................. 9072.868 8625.498
12/31/92 ............................. 9037.574 9262.948
1/29/93 ............................. 8971.06 8824.701
2/26/93 ............................. 8893.685 9541.833
3/31/93 ............................. 9170.604 10647.41
4/30/93 ............................. 9618.559 12201.2
5/31/93 ............................. 10247.06 13844.62
6/30/93 ............................. 10274.2 14531.87
7/30/93 ............................. 10907.04 17270.92
8/31/93 ............................. 10086.88 15906.38
9/30/93 ............................. 9651.409 13914.34
10/29/93 ............................. 10033.94 16205.18
11/30/93 ............................. 10069.23 15906.38
12/31/93 ............................. 10635.55 17579.68
1/31/94 ............................. 10259.27 18187.25
2/28/94 ............................. 10358.37 17241.04
3/31/94 ............................. 10566.05 17270.92
4/29/94 ............................. 10219.91 15886.45
5/31/94 ............................. 10522.62 16643.43
6/30/94 ............................. 10540.53 15567.73
7/29/94 ............................. 10425.15 15587.65
8/31/94 ............................. 10472.66 16304.78
9/30/94 ............................. 10719.44 17280.88
10/31/94 ............................. 10420.81 16563.74
11/30/94 ............................. 10400.45 14272.91
12/30/94 ............................. 10404.79 14601.59
1/31/95 ............................. 10177.83 13064.58
2/28/95 ............................. 10218.55 13344.04
3/31/95 ............................. 10642.34 14881.05
4/28/95 ............................. 10581.26 15290.25
5/31/95 ............................. 10433.02 15260.31
6/30/95 ............................. 10522.62 15779.3
7/31/95 ............................. 10407.23 16467.96
8/31/95 ............................. 10380.08 16917.09
9/29/95 ............................. 10425.15 16907.11
10/31/95 ............................. 10388.23 15170.49
11/30/95 ............................. 10528.05 16467.96
12/29/95 ............................. 10506.6 16927.07
1/31/96 ............................. 11009.94 19661.75
2/29/96 ............................. 10876.91 20190.72
3/29/96 ............................. 10760.17 21268.62
4/30/96 ............................. 10623.07 21927.34
5/31/96 ............................. 10602.7 24162.99
6/28/96 ............................. 10370.85 21198.76
</TABLE>
*COMPARE THE
U.S. WORLD GOLD FUND
TO GOLD BULLION OVER 5 YEARS.
U.S. World Gold Fund $21,198.76
Gold bullion $10,370.85
U.S. WORLD GOLD FUND
Advertisement
[CENTERED AT TOP BETWEEN LEFT AND RIGHT SIDE OF INSERT IN GOLD BORDER]
RECOMMENDED BY: Mutual Fund Advisor (April 1996) * The Wall Street Digest
(February 1996) * Mutual Funds Magazine (June 1996) * Fabian Investment
Resources (May 2, 1996) * Schabacker's Mutual Fund Investing (June 1996) * The
Aden Forecast (May 1996) * Martin Weiss' Safe Money Report (May 1995) * The
Reaper (April 1996) * The Big Picture (April 1996) * The Addison Report (April)
* Mutual Fund Forecaster (May 1996) * The Silver & Gold Report (January 24,
1996) * The No-Load Fund Investor (May 1996)
GOLD: Eternal, lustrous, precious. For centuries gold has been prized for its
rarity and beauty. Even in the modern world economy, gold is a source of
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and dentistry. Gold jewelry adorns us.
WHY INVEST IN GOLD?
* Gold mining companies with growing reserves, production and cash flow offer
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* Gold is a growth opportunity. Demand for gold is rising, particularly in
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* Gold is a proven portfolio diversifier. Since it is not highly correlated
with other financial assets, its inclusion in a diversified portfolio can
increase the portflio's return without materially increasing the portfolio's
risk.
* Gold is a safe haven in times of eco-nomic and financial instability.
* Gold is a hedge against inflation over the long term.
[GRAPHIC: Full-length picture of Victor Flores standing on world map]
VICTOR FLORES
Chief Investment Officer
and Portfolio Manager
THE U.S. WORLD GOLD FUND
United Services Funds offers you a unique opportunity to take part in the
globalization and growth of the gold mining industry.
The U.S. World Gold Fund invests in gold mining companies around the world. We
seek out those companies which have the potential to create wealth for their
stockholders by discovering new deposits, developing promising properties,
and/or profitably mining gold.
TOP 10 PORTFOLIO HOLDINGS:
(as of 8/30/96)
Barrick Gold
Delta Gold
Greenstone Resources
Pioneer Group
Ashanti Goldfields
Getchell Gold
Euro Nevada
Meridian Gold
Franco Nevada
Newmont Mining
INVESTMENT GOAL: Capital appreciation
RISK PROFILE: Low ----------------*---- High
SALES CHARGE: None
PORTFOLIO MANAGER: Victor Flores, CFA, MA in mineral economics, BS in geology
INVESTMENT ADVISOR: U.S. Global Investors, Inc., manages the United Services
Family of Funds-thirteen no-load mutual funds offering a diversity of investment
options and opportunities.
[GRAPHIC: Full-length picture of Frank Homes standing on world map]
FRANK HOLMES
President & CEO
United Services Funds
U.S. WORLD GOLD FUND*
-------- --------- --------
32.51% 19.93% 9.10%
ONE YEAR FIVE YEAR TEN YEAR
-------- --------- --------
AVERAGE ANNUAL TOTAL RETURNS AS OF 8/30/96
[GRAPHIC: "*" ON APPROPRIATE LOCATIONS ON WORLD MAP]
* Countries researched and visited by our Gold & Natural Resource Team
HOW YOU BENEFIT FROM INVESTING IN THE U.S. WORLD GOLD FUND.
THE U.S. WORLD GOLD FUND IS A CONSISTENT, LONG-TERM PERFORMER. While past
performance cannot guarantee future results, the numbers demonstrate our fund's
success in achieving its goal of capital appreciation.
OUR MINING SPECIALISTS EXPERTLY MANAGE YOUR MONEY. The U.S. World Gold Fund is
managed by one of the most qualified teams in the business. Our Gold and Natural
Resources Team includes investment professionals who also have extensive
experience in geology, mineral economics and mining finance. There are few funds
that can say the same.
YOUR MONEY IS INVESTED WITH THE LONG-STANDING LEADER IN GOLD FUND MANAGEMENT. In
fact, we established the first no-load gold fund in America. Today U.S. Global
Investors manages almost $500 million in gold assets. Our $1.5 billion family of
no-load funds provides you a diversity of investment options.
YOUR GOLD INVESTMENT IS DIVERSIFIED TO REDUCE YOUR RISK. Mining is a high-risk
business where inexperienced investors can easily lose money on ventures which
never pan out. A fully diversified portfolio will help protect you from this
risk. The U.S. World Gold Fund makes it easy and affordable for you to own a
diversified portfolio of gold stocks.
INVESTING IS EASY AND AFFORDABLE. We believe everyone should have the
opportunity to invest. At United Services you can open an account with $100 or
$1 million, whatever fits your budget. You can add to your account with $50 or
more. These affordable investment minimums make it easy for you to open an
account for yourself, your children or grandchildren.
TAKE ACTION NOW. CALL FOR A FREE INVESTMENT KIT AND PROSPECTUS 1-800-557-2297,
EXT. 152. OR RETURN THIS INFORMATION REQUEST CARD TODAY.
[GRAPHIC: Full-length picture of Michael Chapman standing on world map]
MICHAEL CHAPMAN
Senior Research Analyst
[GRAPHIC: Full-length picture of Dr. Naijiang Zhou standing on world map]
DR. NAIJIANG ZHOU
Senior Research Analyst
[FRONT OF POSTCARD AT BOTTOM RIGHT OF INSERT]
YES! I NEED TO LEARN MORE ABOUT THE BENEFITS OF THE U.S. WORLD GOLD FUND.
PLEASE RUSH ME A FREE INVESTMENT GUIDE TODAY.
[ ] PLEASE ENCLOSE AN IRA INVESTMENT GUIDE.
Name ................................................
Address .............................................
City, State, ZipCode ................................
Daytime Phone .......................................
FOR IMMEDIATE RESPONSE CALL 1-800-557-2297, EXT. 152.
[GRAPHIC: U.S. FAMILY OF FUNDS LOGO]
[BACK SIDE OF INSERT]
[CENTERED AT TOP BETWEEN LEFT AND RIGHT SIDE OF INSERT IN GOLD BORDER]
* Dick Davis Digest (May 1996) * Wellington Letter (May 1996) * Forecasts &
Strategies (February 1996) * Monetary Digest (February 1996) * The Ruff Times
(March 11, 1996) * Adrian Day's Investment Analyst (April 1996) * Lou Rukeyser's
Mutual Funds (May 1996)
"THE BEST GOLD INVESTMENTS ARE BURIED IN THE EARTH, NOT IN FINANCIAL REPORTS.
AT UNITED SERVICES, WE KNOW THAT MANAGING GOLD FUNDS INVOLVES MORE THAN NUMBER
CRUNCHING. IT TAKES A TEAM WITH THE EXPERIENCE TO DIG DEEPER. LET ME INTRODUCE
YOU TO OUR WORLD-CLASS TEAM..."
Frank Holmes
President & CEO, United Services Funds
VICTOR FLORES
* Chief Investment Officer and Portfolio Manager of the U.S. World Gold Fund
and the U.S. Gold Shares Fund
* Chartered Financial Analyst
* M.A. in Energy and Mineral Resources Management and B.S. in Geological
Sciences from the University of Texas at Austin
FRANK HOLMES
* President and CEO of United Services Funds
* B.A. in Economics and Natural Science from Huron College, University of
Western Ontario
* Experience in investment banking, international capital markets, and the gold
mining industry
* Fellow of the Canadian Securities Industry
-----------------------------
For a free investment guide
and prospectus, return
the attached card or
call 1-800-557-2297, ext. 152
for immediate response.
Please read them carefully
before you invest.
-----------------------------
NAIJIANG ZHOU
* Senior Research Analyst
* Ph.D. in Energy Economics and M.B.A. in Operations Management from the
University of Texas at Austin
* B.S. in Petroleum Engineering from the Petroleum University, China
* Worked as an analyst at the Bureau of Economic Geology at the University of
Texas at Austin
RALPH ALDIS
* Director of Research and Analysis and Portfolio Manager of the U.S. Global
Resources Fund
* Chartered Financial Analyst
* M.A. in Energy and Mineral Resources, University of Texas at Austin and B.S.
with Honors in Geology, Stephen F. Austin State University.
* Former research analyst with Neil A. Eisner & Co., consulting firm
specializing in energy industry regulation and litigation
MICHAEL CHAPMAN
* Senior Research Analyst
* M.A. in Energy and Mineral Resources and B.S. in Petroleum Engineering from
the University of Texas at Austin
* Interned with British Gas and Coffman Exploration
* Former Petroleum Engineer with Unocal's Offshore California Oil and Gas
Operations
- ----------
* Like all mutual funds, Fund shares are not backed by the U.S. government. Past
performance is no guarantee of future results. U.S. stands for United Services.
Investment returns and principal value will fluctuate so that you may have a
gain or a loss when you sell shares. Investments in gold funds involve special
risks. Gold bullion does not pay dividends. U.S. World Gold reflects total
return with all dividends reinvested. **Using the ABC Investment Plan (R) does
not guarantee a profit. If you sell at a market bottom, no system will give you
a gain.
[BACK OF POSTCARD]
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----------------------------------------------
BUSINESS REPLY MAIL
First-Class Mail Permit No. 394 San Antonio TX
----------------------------------------------
Postage Will Be Paid By Addressee
UNITED SERVICES FUNDS
PO BOX 781234
SAN ANTONIO TX 78278-9971
[END OF POSTCARD]
IT'S TIME TO TAKE ACTION. Our low minimum investment of $1,000 makes it easy and
affordable to start investing n the U.S. World Gold Fund. Since gold funds tend
to be volatile, we recommend that you build a position over time by investing a
consistent amount at regular intervals thereby avoiding the extremes in the
market. You'll automatically accomplish this when you use our ABC Investment
Plan(R)**. The Plan lets you open an account with as little as $100 when you
make monthly investments of $30 or more.
