[GRAPHIC: U.S. Global Investors Logo]
[NEWS RELEASE printed in a box]
[NEWS printed on left hand side of page]
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FOR ADDITIONAL INFORMATION:
Frank Holmes Johanna Thornblad
President and CEO V.P. Communications
(210) 308-1234 (210) 308-1237
[email protected]
For Immediate Release:
TOP-PERFORMING GOVERNMENT MONEY MARKET
FUND EXTENDS GUARANTEE
San Antonio, Texas--June 25, 1997. U.S. Global Investors announced today that
they will be extending their guarantee that total operating expenses for the
top- performing U.S. Government Securities Savings Fund will not exceed 0.40%
until at least June 30, 1998. This Fund has maintained its position as the
number one government money market fund for the past five years according to
Lipper Analytical Services and has an effective yield of 5.45% and a current
yield of 5.31%.
President and CEO, Frank Holmes said of the expense cap extension,"Our decision
to extend the 0.40% cap was made to demonstrate our commitment to investors to
remain a high yield provider."
The U.S. Government Securities Savings Fund has consistently outperformed the
average government money market fund, 6-month CD and bank money market* while
offering free checkwriting privileges, daily dividend income which is exempt
from state and local taxes, electronic deposits, penalty-free withdrawals and
monthly statements. The Fund invests only in securities issued by the U.S.
Government and its agencies.
The U.S. Government Securities Savings Fund has approximately $690 million in
government notes. The Fund is listed under U.S. Global Investors.
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The U.S. Government Securities Savings Fund's 7-Day Effective Yield and 7-Day
Current Yield as of 6/17/97 were 5.45% and 5.31% respectively. The U.S.
Government Securities Savings Fund was ranked #1 out of 78 government money
market funds for the 5-year period ended 12/31/96 and #5 out of 115 government
money market funds for the 1-year period ended 12/31/96 by Lipper Analytical
Services. In accordance with SEC guidelines, capital gains or losses are
excluded from yield calculations. Past performance is no guarantee of future
results. The U.S. Government Securities Savings Fund is managed to maintain a
stable $1 per share value; however, there is no guarantee it will be able to do
so. Like all other mutual funds, Fund shares are not backed by the U.S.
Government or its agencies; however, the securities it invests in are. The fund
offers free checkwriting privileges for checks of $500 or more. The Advisor of
the Fund has guaranteed total fund operating expenses (as a percentage of net
assets) will not exceed 0.40% until 6/30/98 or until such later date as the
Advisor determines. The Fund's Advisor subsidized certain Fund expenses,
enhancing the 7-day annualized yield by .19% for the period ended 6/17/97. For
more information about the Fund, including charges and expenses, call
1-800-US-FUNDS for a free prospectus. Read it carefully before you invest or
send money. A monthly small account fee will apply if your balance falls below
the $1,000 minimum.
*According to IBC's Money Fund Report and Bank Rate Monitor, the average money
market mutual funds outperform bank money markets and 6-month CD's. Money market
yields may change daily. CD's generally have a fixed rate of return. The Fund is
not a bank and is not insured by the FDIC.
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7900 Callaghan Road
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Mailing Address:
P.O. Box 781234
San Antonio, Texas
78278-1234
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Tel 210-308-1234
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1-800-US-FUNDS
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Fax 210-308-1227
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email [email protected]
