NEWS RELEASE
For additional information
contact: Johanna Thornblad Stephanie Linkous
V.P. Communications Asst. V.P. Communications
(210) 308-1237 (210) 308-1214
For Immediate Release:
Quotron:ACBGX
Web site: http://www.usfunds.com
BUCKING THE TREND: FUND EXPENSES DECREASE AS ASSETS INCREASE
San Antonio, Texas -- Jan. 22, 1997 U.S. Global Investors, Inc. (U.S. Global)
announces that due to superior performance the Bonnel Growth Fund has attracted
more than $100 million in assets while slashing operating expenses to 1.83% from
the prospectus-stated 2.5%.
"Always mindful of cutting the fees our shareholders are exposed to, we are
pleased to be able to pass on these savings, " says Chairman and CEO, Frank
Holmes.
The Bonnel Growth Fund achieved an annualized total return of 45.22% in 1995 and
27.93% in 1996. "My goal is to see this Fund soar past the $200 million mark
before the end of this year and by that time the expense ratio should be
substantially lower than it is now." says Portfolio Manager Art Bonnel. "I'm a
significant shareholder in the Fund, and I like seeing the fees getting lower."
Bonnel's well-known bullish outlook continues in 1997 although he claims there
may very well be a 5-10% correction in store. "During that time, I hope to pick
up quality stocks at bargain prices," he says.
Art Bonnel came to U.S. Global with a very impressive track record, and his 2
year cumulative return of 86.16%, compared to the S&P 500's 69.19% return as of
December 31, 1996, has certainly proven that he is a consistent manager and
worthy of the accolades he has recently received" says Mr.
Holmes.
U.S. Global Investors, Inc. is a public company based in San Antonio, Texas.
U.S. Global and its subsidiaries manage and/or administer approximately $1.5
billion in mutual fund and trust assets, including United Services Funds and
Accolade Funds. The Company's stock is traded in the NASDAQ Stock Market.
- 30 -
- ----------
Like all mutual funds, Fund shares are not backed by the U.S. Government. The
Fund's average annual total return since it's inception on October 17, 1994 was
33.02%. Past performance is not indicative of future results. Investment return
and principal value will fluctuate. You may have a gain or a loss when you sell
shares.
