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GLOBAL RESOURCES FUND [Graphics: USGI Logo]
a U.S. Global Investors Fund
NATURAL RESOURCES
About the Portfolio Manager
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The portfolio management team is comprised of Ralph Aldis, C.F.A., (Chartered
Financial Analyst), and Michael Chapman.
Ralph Aldis, C.F.A. has an M.A. in Energy and Mineral Resources from the Univer-
sity of Texas at Austin and a B.S. with honors in Geology from Stephen F. Austin
State University. He has been a fund manager with the company since 1992.
Michael Chapman has an M.A. in Energy and Mineral Resources and a B.S. in
Petroleum Engineering from the University of Texas at Austin.
Investment Profile
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The Global Resources Fund invests in natural resource related companies all
around the globe. The Fund's diverse portfolio, which includes metals, minerals,
chemicals, energy and more, protects it against downturns in any one sector.
The Fund's goal is capital appreciation and protection against inflation and
monetary instability.
SECTORS %
Petroleum Refining 23.68%
Crude Petroleum 9.49%
Oil & Gas Drilling 9.27%
Metals Mining 7.65%
Chemicals 3.03%
Natural Gas Liquids 2.85%
Misc. Chemical Products 2.52%
Paperboard Mills 2.29%
Natural Gas Distribution 1.98%
Oil & Gas Field Machines 1.96%
FUND PROFILE
For Portfolio
Management
Commentary
call our portfolio
direct hotline at
1-800-873-8637
option 6
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EQUITY PORTFOLIO HIGHLIGHTS (QUARTER ENDED JUNE 30, 1998)
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Total Returns
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Year To Date 25.25%
1 Year (annualized) -29.87%
5 Year (annualized) .90%
10 Year (annualized) 1.09%
Total Assets: $18.957 million
Expense Ratio: as of Dec. 31, 1997 2.13%
CUSIP: 911476208
Ticker Symbol: PSPFX
Inception Date: 8/3/83
Top Ten Holdings
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Exxon 3.80%
British Petroleum 2.23%
Sharpe Petroleum Co. 2.65%
Total SA 2.65%
Enron Corp. 2.47%
Dynatec Corp. 2.42%
Texaco 2.31%
Chevron 2.27%
Mobil Corporation 2.27%
Brunswick Tech 2.18%
Must be accompanied or preceded by a prospectus. Past performance is no
guarantee of future results. Please read the prospectus carefully before
investing. Investment returns and principal value will vary, and you may have a
gain or loss when you sell shares. Call 1-800-US-FUNDS to receive additional in-
formation. The Fund's portfolio will change. There can be no guarantee that the
Fund will continue to hold these securities in the future.
