U S GLOBAL ACCOLADE FUNDS
497, 1998-01-20
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                         S  U  P  E  R  I  O  R 

                     P  E  R  F  O  R  M  A  N  C  E

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(graphics: standing picture of Art Bonnel)

                                   -------------------------------------
                                                + 32.97%
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                                        ........................
                                        since inception 10/17/94
                                        ........................
                                   Average Annual returns as of 9/30/97
                                   -------------------------------------    
                                                + 28.67%
                                        ........................
                                                 one year
                                        ........................



                         THE  BONNEL  GROWTH  FUND


A   Ranking from                             (company logo)
  Investor's Business Daily
  among all mutual funds
  for the 36 months period
  ending 12/3/97.


                         Call 1-800-557-2297, ext. 601
                              www.us-global.com

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Past  performance  does not guarantee  future  results.  Investment  returns and
principal  value  will  fluctuate.  You may have a gain or a loss  when you sell
shares. For more information about the Bonnel Growth Fund, including charges and
expenses,  call  1-800-557-2297,  ext 601 for a  prospectus.  Read it  carefully
before you invest or send money.  Ranking  Source:  Investor's  Business  Daily,
12/3/97.  Each moving 36 month  performance  rank by Investor's  Business Daily,
versus all other  mutual  funds,  is  recalculated  each month on a total return
basis.  All dividends and capital gains  included.  A+=Top 5%, A=Top 10%, A-=Top
15%,  B+=Top 20%,  B=top 25%, B- =Top 30%,  C+=top 35%,  C=Top 40%,  C-=Top 45%,
D+=Top 50%, D=Top 60%, D-=Top 70%, E-=Below 70%, MFM 429
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