WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This Financial Data Schedule contains summary financial information
extracted from the semi-annual report filed on Form N-SAR and is qualified
in its entirety by reference to such semi-annual report on Form N-SAR.
</LEGEND>
<CIK> 0000902042
<NAME> U.S. GLOBAL ACCOLADE FUNDS
<SERIES>
<NAME> REGENT EASTERN EUROPEAN FUND
<NUMBER> 4
<MULTIPLIER> 1
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> 06-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> APR-30-2000
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5877408
<INVESTMENTS-AT-VALUE> 5708112
<RECEIVABLES> 225987
<ASSETS-OTHER> 7544
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5941643
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21700
<TOTAL-LIABILITIES> 21700
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6580450
<SHARES-COMMON-STOCK> 520697
<SHARES-COMMON-PRIOR> 601482
<ACCUMULATED-NII-CURRENT> (136956)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (354214)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (169337)
<NET-ASSETS> 5919943
<DIVIDEND-INCOME> 8675
<INTEREST-INCOME> 10713
<OTHER-INCOME> 117
<EXPENSES-NET> (131713)
<NET-INVESTMENT-INCOME> (112208)
<REALIZED-GAINS-CURRENT> 304161
<APPREC-INCREASE-CURRENT> 1399500
<NET-CHANGE-FROM-OPS> 1591453
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 133199
<NUMBER-OF-SHARES-REDEEMED> (213984)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 709721
<ACCUMULATED-NII-PRIOR> (24748)
<ACCUMULATED-GAINS-PRIOR> (658375)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 39337
<INTEREST-EXPENSE> 6
<GROSS-EXPENSE> 131868
<AVERAGE-NET-ASSETS> 6328284
<PER-SHARE-NAV-BEGIN> 8.66
<PER-SHARE-NII> (.22)
<PER-SHARE-GAIN-APPREC> 2.93
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.37
<EXPENSE-RATIO> 4.19
</TABLE>
