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FOR IMMEDIATE RELEASE Contact: Michael Garland
Public Relations
(210) 308-1237 (tel)
(210) 308-1227 (fax)
[email protected]
U.S. GLOBAL INVESTORS EXTENDS COMMITMENT TO
U.S. GOVERNMENT SECURITIES SAVINGS FUND
San Antonio, Texas--July 27, 1998--U.S. Global Investors, Inc., investment
advisor for the U.S. Government Security Savings Fund, has announced it is
extending its voluntary commitment to guarantee that total operating expenses of
the fund will not exceed 0.40% through June 30, 1999, or until such later date
as it determines. This fund consistently has ranked in the top ten government
money market funds for the past five years and carries an effective yield of
5.28%, with a current yield of 5.15%, for the seven-day period ending July 24,
1998.
CEO Frank Holmes said of the expense cap extension,"Our decision to
extend the 0.40% cap illustrates U.S. Global Investors' continuing commitment to
keep the fund's yield high relative to those of other government-only money
market funds."
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US Government Security Savings Fund
The U.S. Government Securities Savings Fund consistently has
outperformed the average government money market fund, six month CDs and bank
money markets while offering free check writing privileges, daily dividend
income (which is exempt from state and local taxes), electronic deposits,
penalty-free withdrawals and monthly statements.
To date, the U.S. Government Securities Savings Fund has
approximately $767 million in U.S. government notes. The fund is listed as
UGSXX.
The U.S. Government Securities Savings fund is managed to maintain a stable
$1 per share value; however, there is no guarantee it will be able to do so.
Like all other mutual funds, fund shares are not backed by the U.S. Government
or its agencies; however, the securities it invests in are.
For more information about the fund, including charges and expenses, call
1-800-US-FUNDS for a free prospectus. Read it carefully before you invest or
send money.
The U.S. Government Securities Savings Fund was ranked #2 out of 84
government money market funds for the 5- year period ended 6/30/98 and #5 out of
112 government money market funds for the 1-year period ended 6/30/98 by Lipper
Analytical Services. In accordance with SEC guidelines, capital gains or losses
are excluded from yield calculations. Past performance is no guarantee of future
results.
In light of the Fund Advisor's commitment to subsidize fund expenses, it
has enhanced the 7-day annualized yield by 0.36% for the period ended 6/30/98.
According to IBC's Money Fund Report and Bank Rate Monitor, the average
money market mutual funds outperform bank money markets and 6-month CDs. Money
market yields may change daily. CDs generally have a fixed rate of return. The
fund is not a bank and is not insured by the FDIC.
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