*****
3 Year Morningstar Rating*
All American Equity Fund
1 Year
+27.27%
3 Year
+28.37%
5 Year
+19.66%
10 Year
+12.95%
Total Return for period ended 6/30/98
[GRAPHIC: US Global Investors Logo] "Blue Chip Equity"
Call 1-800-US-FUNDS
1-800-873-8637
to receive investment literature
and a prospectus.
www.usfunds.com
For more complete information about US Global Investors' funds, including
charges and expenses, call 1-800-US-FUNDS or visit our Web site at
www.usfunds.com for a free prospectus. Read it carefully before you invest or
send money. Past performance is no guarantee of future results. Investment
returns and principle will fluctuate so that you may have a gain or loss when
you sell shares.
* Morningstar uses a proprietary rating system to show historical, risk-adjusted
performance. These ratings may change monthly and are calculated from the funds'
1-, 3-, 5-, and 10-year (when available) average annual returns in excess of 90-
day Treasury bill returns, with an appropriate adjustment for fees and expenses
and with a risk factor reflecting the funds' performance below 90-day T- bill
returns.Morningstar awards five stars to funds in the top 10% of their category,
four stars to funds in the next 22.5%, three stars to the next 35%, two stars to
the next 22.5%, and one star in the bottom 10%.Morningstar awarded the fund five
stars out of 2437 funds for the 3-year period ended 3/31/98. SAB263
