<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
extracted from the annual report for the period ended June 30, 2000, filed on
Form N-SAR and is qualified in its entirety by reference to such report.
</LEGEND>
<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
<SERIES>
<NAME> ALL AMERICAN EQUITY FUND
<NUMBER> 2
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> JUN-30-2000
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 23621799
<INVESTMENTS-AT-VALUE> 44363601
<RECEIVABLES> 196246
<ASSETS-OTHER> 2237
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 44562084
<PAYABLE-FOR-SECURITIES> 401579
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 122425
<TOTAL-LIABILITIES> 524004
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21462392
<SHARES-COMMON-STOCK> 974682
<SHARES-COMMON-PRIOR> 1188052
<ACCUMULATED-NII-CURRENT> (1554)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1835440
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20741802
<NET-ASSETS> 44038080
<DIVIDEND-INCOME> 456813
<INTEREST-INCOME> 162168
<OTHER-INCOME> 320
<EXPENSES-NET> (482735)
<NET-INVESTMENT-INCOME> 136566
<REALIZED-GAINS-CURRENT> 2059310
<APPREC-INCREASE-CURRENT> (1013206)
<NET-CHANGE-FROM-OPS> 1182670
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (137001)
<DISTRIBUTIONS-OF-GAINS> (793897)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 306517
<NUMBER-OF-SHARES-REDEEMED> (539711)
<SHARES-REINVESTED> 19824
<NET-CHANGE-IN-ASSETS> (9164105)
<ACCUMULATED-NII-PRIOR> (14031)
<ACCUMULATED-GAINS-PRIOR> 582939
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 365385
<INTEREST-EXPENSE> 267
<GROSS-EXPENSE> 743385
<AVERAGE-NET-ASSETS> 48687701
<PER-SHARE-NAV-BEGIN> 44.78
<PER-SHARE-NII> .33
<PER-SHARE-GAIN-APPREC> .90
<PER-SHARE-DIVIDEND> (0.33)
<PER-SHARE-DISTRIBUTIONS> (.50)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 45.18
<EXPENSE-RATIO> 1.00
</TABLE>
