The Global Resources Fund (PSPFX), the company’s largest fund, was Lipper’s top-performing global natural resources fund for total return in 2010. In 2009, the World Precious Minerals Fund (UNWPX) was Lipper’s top-performing gold fund for total return, the second time in four years for that achievement. In addition, both funds received 2007 and 2008 Lipper Fund Awards as the best overall fund in their respective categories.Overall, four of U.S. Global’s emerging market and resource-oriented funds ranked among the top 45 funds (top 1 percent) for total return among the entire mutual fund universe for the past decade. In addition, the Eastern European Fund (EUROX), the company’s third-largest fund, was named one of five top European Mutual Funds to own by Zacks Research. Zacks Research ranks funds by evaluating the quality of the stocks in its underlying portfolio, as well as the firm’s expectations of the fund’s performance relative to its peers. Zacks also recently named the Global Resources Fund as a top five Energy Mutual Fund. "We expect commodity prices to remain both volatile and at historically strong levels over the next 12-18 months,” says Holmes. “This is because emerging market infrastructure growth should continue to drive healthy demand and new supply sources of many commodities continue to be constrained.” "For those investors with longer-term investment horizons and higher risk tolerance, we believe emerging markets and resource equities still offer attractive relative value and growth opportunities to consider, and this should continue to attract mainstream institutional investors,” says Holmes. The company has scheduled a webcast for 7:00 a.m. Central time on Thursday, February 3, 2011, to discuss the company's key financial results for the quarter. Frank Holmes, CEO and Chief Investment Officer, will be accompanied on the webcast by Susan McGee, President and General Counsel, and Catherine Rademacher, Chief Financial Officer. Click here to register. Selected financial data (unaudited):
|Three months ended|
|Income before taxes||3,640,293||2,309,053|
|Earnings per share (basic)||$||0.15||$||0.10|
|Earnings per share (diluted)||$||0.15||$||0.10|
|Avg. common shares outstanding (basic)||15,372,554||15,336,967|
|Avg. common shares outstanding (diluted)||15,372,554||15,340,847|
|Avg. assets under management (billions)||$||2.85||$||2.66|
This news release may include certain “forward-looking statements” including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements.U.S. Global Investors routinely posts corporate filings and other important information on the company’s website, www.usfunds.com. The Global Resources Fund (PSPFX) ranked #1 out of 131, #17 out of 54, and #1 out of 32 global natural resources funds by Lipper for total return for the 1-, 5- and 10-year periods as of December 31, 2010. The World Precious Minerals Fund was ranked #24 of 83, #26 of 52 and #6 of 32 precious metals funds for total return by Lipper for the 1-, 5- and 10-year periods ended December 31, 2010. The World Precious Minerals Fund was ranked #1 of 71, #34 of 51 and #18 of 29 for total return among gold-oriented funds by Lipper for the 1-, 5- and 10-year periods ended December 31, 2009. The Gold and Precious Metals Fund (USERX) ranked #193 out of 21,767, #39 out of 14,636, and #13 out of 8,647 among all mutual funds by Lipper for total return for the 1-, 5- and 10-year periods ended December 31, 2010. The World Precious Minerals Fund (UNWPX) ranked #72 out of 21,767, #48 out of 14,636, and #7 out of 8,647 among all mutual funds by Lipper for total return for the 1-, 5- and 10-year periods ended December 31, 2010. The Eastern European Fund (EUROX) ranked #4,584 out of 21,767, #8,116 out of 14,636, and #40 out of 8,647 among all mutual funds by Lipper for total return for the 1-, 5- and 10-year periods ended December 31, 2010. The Global Resources Fund (PSPFX) ranked #142 out of 21,767, #622 out of 14,636, and #45 out of 8,647 among all mutual funds by Lipper for total return for the 1-, 5- and 10-year periods ended December 31, 2010. Lipper Fund Awards are presented annually for consistent return over 3-, 5- and 10-year periods. Consistent return incorporates risk-adjusted return and the strength of the fund's performance trend. Past performance does not guarantee future results.
Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc.Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk. By investing in a specific geographic region, a regional fund’s returns and share price may be more volatile than those of a less concentrated portfolio. Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than 5% to 10% of your portfolio in these sectors. The Eastern European Fund invests more than 25% of its investments in companies principally engaged in the oil & gas or banking industries. The risk of concentrating investments in this group of industries will make the fund more susceptible to risk in these industries than funds which do not concentrate their investments in an industry and may make the fund’s performance more volatile. Because the Global Resources Fund concentrates its investments in a specific industry, the fund may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries. As of 12/31/10, the Eastern European Fund earned a Zacks Rank of 1 for the 1-year, 3-year, 5-year and 10-year periods, out of 29 European Mutual Funds. As of 12/31/10, the Global Resources Fund earned a Zacks Rank of 1 for the 1-year, 3-year, 5-year and 10-year periods, out of 38 Energy Mutual Funds. Zacks assigns Zacks Mutual Fund Ranks [TM] on a scale from 1 to 5 where 1 is the best and 5 is the worst. Zacks Mutual Fund Ranks are based on an exclusive process created by the Zacks Quantitative Research Department, evaluating the average Zacks Rank for the stocks owned by a fund. Sales charges, loads and redemption fees are not considered when determining the Zacks Mutual Fund Rank. Past Performance is not a guarantee of future results.
Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user's own risk. This is not an offer to buy or sell securities.All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.