[GRAPHIC: U.S. GLOBAL INVESTORS, INC. LOGO TOP RIGHT]
U.S. GLOBAL INVESTORS MUTUAL FUND PERFORMANCE AS OF 12/31/96
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YIELDS
7-day simple 7-day compounded
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GOVERNMENT MONEY MARKET FUNDS
U.S. Treasury Securities Cash Fund 4.31% 4.40%
U.S. Government Securities Savings Fund 5.08% 5.21%
30 day SEC Tax Equivalent
(Based on 39.6%
Tax Rate)
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TAX-FREE FUNDS:
United Services Near-Term Tax Free Fund 4.59% 7.59%
U.S. Tax Free Fund 4.97% 8.23%
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TOTAL RETURNS
AVERAGE ANNUAL TOTAL
RETURNS
1 year 5 year 10 year Since
Inception
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STOCK FUNDS
Bonnel Growth Fund 27.93% 33.02%
U.S. All American Equity Fund 22.28% 11.98% 8.46%
U.S. Income Fund 10.45% 9.06% 9.52%
U.S. Real Estate Fund 31.56% 7.72% 6.95%
China Region Opportunity Fund 27.85% -7.57%
GOLD & NATURAL RESOURCES FUNDS
U.S. World Gold Fund 19.52% 15.79% 6.05%
U.S. Gold Shares Fund -25.48% -10.18% -7.63%
U.S. Global Resources Fund 34.11% 8.75% 6.08%
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TAX-FREE BOND FUNDS:
U.S. Tax Free Fund 3.84% 6.29% 6.69%
United Services Near-Term Tax
Free Fund 4.30% 5.37% 6.02%
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For more information, including charges and expenses, call 1-800-US-FUNDS.
Please read the prospectus carefully before investing. U.S. stands for United
Services. Past performance is no guarantee of future results. Like all other
mutual funds, Fund shares are not backed by the U.S. government or its agencies;
however, the securities that the U.S. Government Securities Savings Fund invests
in are. This Fund is managed to maintain a stable $1 per share value; however,
there is no assurance it will be able to do so. In accordance with SEC
guidelines, capital gains or losses are excluded from yield calculations.
Investment return and principal value will fluctuate. You may have a gain or a
loss when you sell shares. The Advisor for the U.S. Government Securities
Savings Fund, U.S. Tax Free Fund, United Services Near-Term Tax Free Fund and
the U.S. All American Fund has guaranteed total fund operating expenses (as a
percentage of net assets) will not exceed .40%, .40%, .40% and .70%,
respectively until 6/97. The Advisor for the aforementioned Funds subsidized
certain Fund expenses, enhancing the yield (or total return) by approximately
.28%, 1.08%, 1.53% and 1.15%, respectively. Regarding the U.S. Tax Free Fund,
United Services Near-Term Tax Free Fund and China Region Opportunity Fund, some
income may be subject to state, federal or AMT taxes for certain investors.
