GOODWIN, PROCTER & HOAR LLP
COUNSELLORS AT LAW
EXCHANGE PLACE
BOSTON, MASSACHUSETTS 02109-2881
TELEPHONE (617) 570-1000
TELECOPIER (617) 523-1231
October 26, 2000
U.S. Global Investors Funds
7900 Callaghan Road
San Antonio, Texas 78229
Ladies and Gentlemen:
We hereby consent to the incorporation by reference in Post-Effective
Amendment No. 87 (the "Amendment") to Registration Statement 2-35439 on Form
N-1A (the "Registration Statement") of U.S. Global Investors Funds (the "Trust")
of our opinion with respect to the legality of the shares of the Trust
representing interests in (i) the Gold Shares Fund, Global Resources Fund, World
Gold Fund, All American Equity Fund, Equity Income Fund (formerly, the "Income
Fund"), Tax Free Fund, U.S. Treasury Securities Cash Fund, U.S. Government
Securities Savings Fund and Near-Term Tax Free Fund (formerly, U.S. California
Double Tax Free Fund), which opinion was filed with Post-Effective Amendment No.
59 to the Registration Statement, and (ii) the China Region Opportunity Fund,
which opinion was filed with Post-Effective Amendment No. 74 to the Registration
Statement. We also hereby consent to the reference to this firm in the Statement
of Additional Information under the heading "Independent Accountants and Legal
Counsel" which is included in Part B of the Amendment.
Very truly yours,
/s/GOODWIN, PROCTER & HOAR LLP
GOODWIN, PROCTER & HOAR LLP
