U.S. Global Investors Funds
April 14, 2000, supplement to the
prospectus dated November 1, 1999
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Page 32 -- Portfolio Management Team
Delete the last paragraph on page 32 regarding the portfolio management team of
the funds and replace with the following:
The Adviser uses a team approach to manage the assets of each fund. The
portfolio team is jointly and primarily responsible for the day-to-day
management of the funds' portfolios. With respect to the Real Estate Fund,
the Sub-adviser also uses a team approach. Mr. Ned Goodman and Mr. Oscar
Belaiche lead the team. Mr. Goodman, Chartered Financial Analyst, has more
than thirty years of investment experience. Since 1979, Mr. Goodman has
served as chairman, president and chief executive officer of Goodman &
Company, an adviser to investment companies operating in Canada. Mr.
Belaiche has been with Goodman & Company since October 1997. Prior to
joining Goodman & Company, Mr. Belaiche was vice president of the property
investment division of the Prudential Insurance Company of America.
