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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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SIGNATURE THEODORE BOUDRIA
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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This Financial Data Schedule contains summary financial information
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<NAME> U.S. GLOBAL INVESTORS FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 000101507
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
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This Financial Data Schedule contains summary financial information
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<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
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<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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This Financial Data Schedule contains summary financial information
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<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
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<NAME> U.S. GOVERNMENT SECURITIES SAVINGS FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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This Financial Data Schedule contains summary financial information
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<NAME> U.S. GLOBAL INVESTORS FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
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This Financial Data Schedule contains summary financial information
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<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
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<NAME> REAL ESTATE FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
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</LEGEND>
<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
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<NAME> TAX FREE FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
extracted from the annual report filed on Form N-SAR and is qualified
in its entirety by reference to such annual report on Form N-SAR.
</LEGEND>
<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
<SERIES>
<NAME> U.S. TREASURY SECURITIES CASH FUND
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
extracted from the annual report filed on Form N-SAR and is qualified
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</LEGEND>
<CIK> 000101507
<NAME> U.S. GLOBAL INVESTORS FUNDS
<SERIES>
<NAME> WORLD GOLD FUND
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</TABLE>
EX-99.77K
CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
(a)(1) Previous independent accountant
(i) See Sub-Item 77Q1(f)
(ii) See Sub-Item 77Q1(f)
(iii) See Sub-Item 77Q1(f)
(iv) See Sub-Item 77Q1(f)
(v) See Sub-Item 77Q1(f)
(a)(3) See Sub-Item 77Q1(f)
(b) New Independent accountant
(i) The Registrant engaged Ernst & Young LLP
as its new independent accountant on July 1, 1999.
EX-99.77.Q1(f)
LETTER FROM ACCOUNTANT PURSUANT TO SUB-ITEM 77K
February 22, 2000
Confirmation of fax sent on February 22, 2000
Ms. Sherry Davis
PricewaterhouseCoopers LLP
160 Federal Street
Boston, MA 02110
Dear Ms. Davis:
This is to provide written confirmation that on
July 1, 1999, PricewaterhouseCoopers LLP (PwC) informed
the chairman of the audit committee and management of
U.S. Global Investors Funds (Trust) that they declined to stand
for reappointment, upon the completion of the audit of the
June 30, 1999, financial statements of the Trust.
The Trust confirms the following:
o The reports of PwC on the financial statements for the past
two fiscal years ended June 30, 1999, and June 30, 1998,
contained no adverse opinion or disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope, or
accounting principle.
o The Trust Audit Committee participated in and approved the
selection of new independent accountants.
o In connection with its audits for the two most recent fiscal
years ended June 30, 1999, and June 30, 1998, and through
August 23, 1999, there were no disagreements with PwC on
any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure,
which disagreements, if not resolved to the satisfaction of PwC,
would have caused them to make reference thereto in their
report on the financial statements for such years.
Please furnish us with a letter addressed to the Securities
and Exchange Commission stating whether PwC agrees with the
statements made is this letter and, if not, stating the respects
in which it does not agree. Call me if you have any questions
about this matter.
Sincerely,
Susan B. McGee
Susan B. McGee
Executive Vice President
U.S. Global Investors Funds
SBM:kle
via Federal Express
cc: Bill Donohue via fax
Tracy Peterson
7900 Callaghan Road
...........................
MAIL ADDRESS:
P.O. Box 781234
San Antonio, Texas
78278-1234
...........................
Tel 210-308-1234
...........................
1-800-US-FUNDS
...........................
Fax 210-308-1223
...........................
email [email protected]
=============================================================
160 Federal Street
Boston, MA 02110
Telephone (617) 439-4390
February 22, 2000
Securities and Exchange Commission
40 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
U.S. Global Investors Funds
We have read the letter dated February 9, 2000 from Susan B. McGee,
Executive Vice President, U.S. Global Investors Funds, which we
understand will be filed in response to Sub-Item 77 K of Form N-SAR
for the six month period ending December 31, 1999. We are in
agreement with the statements concerning our firm in such Form N-SAR.
Yours very truly,
/s/ PricewaterhouseCoopers LLP
