U.S. GLOBAL INVESTORS FUNDS
SEPTEMBER 24, 1998, SUPPLEMENT TO
PROSPECTUS DATED NOVEMBER 3, 1997
GOLD SHARES FUND
WORLD GOLD FUND
GLOBAL RESOURCES FUND
- --------------------------------------------------------------------------------
PAGE 19--PORTFOLIO MANAGERS
Delete two paragraphs on page 19 of the prospectus and the reference to page 19
in the July 1, 1998, supplement regarding the portfolio managers of the World
Gold, Gold Shares and Global Resources Funds. Replace with the following
paragraphs:
Gil Atzmon is a gold stock analyst and leader of the portfolio team
managing the World Gold and Gold Shares Funds. Mr. Atzmon, formerly
portfolio manager for the World Gold and Global Resources Funds from 1987
to 1990, rejoined the company as portfolio man ager in June 1998. From
1990 to 1993 he was vice president of investor relations for Dayton Mining
Corporation where he raised $50 million in equity. From 1993 to 1998 he
ran his own consulting and management firm advising money managers on
investment deci sions and strategies and mining companies on financing and
corpo rate development. Mr. Atzmon holds a masters degree in energy and
mineral resources from The University of Texas and a bachelors degree in
geology and geography from Columbia University.
Michael Chapman, a Chartered Financial Analyst, had led the portfo lio
team managing the Global Resources Fund since September 1998. Mr. Chapman
joined the adviser as a senior research analyst in November 1995. From
1992 to 1995 he was a petroleum engineer and earned his master's degree in
energy and mineral resources from The University of Texas.
