U.S. Global Investors Funds
June 3, 1999, supplement to the
prospectus dated November 3, 1998
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Page 23 -- Portfolio Manager
Delete the last paragraph on page 23 regarding the portfolio manager of the Tax
Free Fund and the Near-Term Tax Free Fund and replace with the following:
The Adviser uses a team approach to manage the assets of the tax-free
funds. The management team meets weekly to review macroeconomic factors and
daily to review portfolio holdings and discuss buy and sell activity. The
team employs modeling techniques to determine the funds' portfolio
structure and to screen specific debt securities. Investment decisions for
the funds are made by the team, and no single person has final
responsibility for these decisions.
Page 25--Portfolio Manager
Delete the last paragraph on page 25 regarding the portfolio manager of the U.S.
Treasury Securities Cash Fund and the U.S.Government Securities Savings Fund and
replace with the following:
The Adviser uses a team approach to manage the assets of the government
money market funds. The management team meets weekly to review macro
economic factors and daily to review portfolio holdings and discuss buy and
sell activity. The team employs modeling techniques to determine the funds'
portfolio structure and to screen specific debt securities. Investment
decisions for the funds are made by the team, and no single person has
final responsibil ity for these decisions.
