================================[FIRST SUPPLEMENT===============================
U.S. GLOBAL INVESTORS FUNDS
U.S. TAX FREE FUND
and
UNITED SERVICES NEAR-TERM
TAX FREE FUND
JULY 10, 1997, SUPPLEMENT TO
PROSPECTUS DATED NOVEMBER 1, 1996,
AND SUPPLEMENTED FEBRUARY 24, 1997
----------------------------------
PAGES 2 AND 3: "SUMMARY OF FEES AND EXPENSES"
PAGE 23: "THE INVESTMENT ADVISOR"
The Advisor has guaranteed that total fund operating expenses of the U.S. Tax
Free Fund and the United Services Near-term Tax Free Fund (as a percentage of
net assets) will not exceed 0.70% on an annualized basis through June 30, 1998,
and until such later date as the Advisor determines.
and (2) a supplement to the prospectus for the U.S. Income and U.S.
Real Estate
==============================[SECOND SUPPLEMENT================================
U.S. GLOBAL INVESTORS FUNDS
U.S. ALL AMERICAN EQUITY FUND
JULY 10, 1997, SUPPLEMENT TO
PROSPECTUS DATED NOVEMBER 1, 1996, AND
SUPPLEMENTED FEBRUARY 24, 1997
----------------------------------
PAGES 2 AND 3: "SUMMARY OF FEES AND EXPENSES"
PAGE 23: "THE INVESTMENT ADVISOR"
The Advisor has guaranteed that total fund operating expenses of the U.S. All
American Equity Fund (as a percentage of net assets) will not exceed 1.00% on an
annualized basis through June 30, 1998, and until such later date as the Advisor
determines.
================================[THIRD SUPPLEMENT===============================
U.S. GLOBAL INVESTORS FUNDS
U.S. GOVERNMENT SECURITIES
SAVINGS FUND
JULY 10, 1997, SUPPLEMENT TO
PROSPECTUS DATED NOVEMBER 1, 1996, AND
AMENDED MARCH 10, 1997
----------------------------------
PAGES 2 AND 3: "SUMMARY OF FEES AND
EXPENSES"
PAGE 21: "THE INVESTMENT ADVISOR"
The Advisor has guaranteed that total fund operating expenses of the U.S.
Government Securities Savings Fund (as a percentage of net assets) will not
exceed 0.40% on an annualized basis through June 30, 1998, and until such later
date as the Advisor determines.
