U.S. Global Investors offers exchange traded funds (ETFs) in addition to mutual funds.
Get the need-to-know information about our financial products, from investment objectives, strategies, and performance to fees and fund management.
Explore the performance of our eight no-load mutual funds here, which invest in a range of industries from natural resources and emerging markets, to precious metals and bonds.
The Gold and Precious Metals Fund is the first no-load gold fund in the U.S. We have a history as pioneers in portfolio management in this specialized sector. Our team brings valuable background in geology and mining finance, important to understanding the technical side of the business.
The World Precious Minerals Fund complements our Gold and Precious Metals Fund by giving investors increased exposure to junior and intermediate mining companies for added growth potential. With a high level of expertise in this specialized sector, our portfolio management team includes professionals with experience in geology, mineral resources and mining finance.
The Global Resources Fund takes a multi-faceted approach to the natural resources sector by investing in energy and basic materials. The fund invests in companies involved in the exploration, production and processing of petroleum, natural gas, coal, alternative energies, chemicals, mining, iron and steel, and paper and forest products, and can invest in any part of the world.
The Global Luxury Goods Fund provides investors access to companies around the world that are involved in the design, manufacture and sale of products and services that are not considered to be essential but are highly desired within a culture or society.
The Near-Term Tax Free Fund invests in municipal bonds with relatively short maturity. The fund seeks to provide tax-free monthly income by investing in debt securities issued by state and local governments from across the country.
The U.S. Government Securities Ultra-Short Bond Fund is designed to be used as an investment that takes advantage of the security of U.S. Government bonds and obligations, while simultaneously pursuing a higher level of current income than money market funds offer.
U.S. Global Investors, Inc. is an innovative investment manager with vast experience in global markets and specialized sectors.
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Last week, President Joe Biden hosted Narendra Modi in a lavish state visit, the Indian prime minister’s first, with both nations seeking to realign their strategic interests at a time when China’s global influence continues to grow.
During the event, both leaders committed to strengthening defense and commercial ties, highlighting the importance of international law and maritime freedom amid rising tensions in the East and South China Sea.
The state visit also underlined the burgeoning technological partnership between the two nations, with many notable tech leaders in attendance, including Google’s Sundar Pichai and Microsoft’s Satya Nadella, both born in India.
The prime minister’s goal? To establish India as a global manufacturing and diplomatic powerhouse, an ambition fueled by strained relations with China.
The visit led to several significant agreements, spanning sectors from semiconductors and critical minerals to technology, space and defense. Of these, a landmark deal will allow General Electric to produce jet engines in India, underscoring the country’s manufacturing prowess. Boise, Idaho-based chipmaker Micron Technology’s $800 million investment for a semiconductor facility in India was also announced. Further, India agreed to join the U.S.-led Artemis Accords, marking a new era in collaborative space exploration.
These ties aren’t just about politics. They’re rooted in a flourishing economy that’s turning heads globally. India’s GDP currently stands at around $3.7 trillion, but Deutsche Bank believes it could double to $7 trillion by 2030. Put another way, India’s GDP per capita is right around where China’s was in the 2006-2007 period.
Deutsche attributes this growth to an expanding middle class, policy reforms, infrastructural development and a shift toward clean energy, among other factors. The nation has very favorable demographics, with the median age of its citizens below 30.
At the end of April, the United Nations reported that India had overtaken China as the most populous country on earth, and it’s now on track to add 97 million individuals to its working population over the next 10 years. This is believed to represent the largest workforce growth of any nation on earth for that period.
Yet challenges persist, such as inadequate employment opportunities and “jobless growth.”
Despite these issues, India continues to be a powerhouse of wealth creation. New millionaires are being minted at a staggering pace, and according to the Henley Private Wealth Migration Report 2023, the country’s net outflow of high-net-worth individuals (HNWIs) appears to be slowing year-over-year.
And the future? Goldman Sachs predicts that by 2075, India will be the world’s second-largest economy after China, overtaking the U.S. by a slim margin. The possibilities seem endless if the right policies can be aligned with the anticipated rapid population growth.
While uncertainties remain, signs of optimism abound. India’s Sensex, the benchmark index of the Bombay Stock Exchange, recently hit a record high, buoyed by rapid economic growth and increased foreign investment.
Investors, too, are recognizing India’s potential. Despite recent dips in foreign direct investment (FDI) due to geopolitical tensions, India has managed to attract nearly $920 billion in total from April 2000 to March 2023, according to Dezan Shira & Associates.
Major global corporations like Amazon and Google are betting big on India. Amazon plans to invest an additional $15 billion by 2030, with Amazon Web Services (AWS) contributing $12.7 billion to cater to surging customer demand. Google aims to establish a fintech center in India’s Gujarat International Finance Tec-City (GIFT City) and extend its AI chatbot Bard to more Indian languages, making the internet more accessible to India’s diverse population.
During his U.S. visit, Modi met with Elon Musk, signaling potential investments in India’s renewable energy and electric vehicle sectors. With its recent policy reforms opening its space sector to private players, India offers a promising arena for SpaceX’s Starlink satellite internet service.
India has “more promise than any large country in the world,” Musk said following the meeting, adding that he was confident that Tesla will be in India “as soon as humanely possible.”
India is rapidly transforming into a formidable global superpower and an increasingly attractive destination for investor capital. Amid rising geopolitical tensions and the impact of disruptive technologies, India’s story is a beacon of opportunity in a challenging landscape. Its steadily growing middle class, policy reforms and digital prowess are reshaping its economic trajectory, inviting an influx of foreign capital.
For investors, I believe the time to recognize India’s potential could be now.
To my Canadian friends and family, Happy Canada Day! And to my American friends and family, Happy Fourth of July!
This week gold futures closed at $1,927.80, down $1.80 per ounce, or 0.09%. Gold stocks, as measured by the NYSE Arca Gold Miners Index, ended the week higher by 0.69%. The S&P/TSX Venture Index came in up 3.77%. The U.S. Trade-Weighted Dollar was essentially unchanged by the end of the week.
U.S. Global Investors, Inc. is an investment adviser registered with the Securities and Exchange Commission (“SEC”). This does not mean that we are sponsored, recommended, or approved by the SEC, or that our abilities or qualifications in any respect have been passed upon by the SEC or any officer of the SEC.
This commentary should not be considered a solicitation or offering of any investment product. Certain materials in this commentary may contain dated information. The information provided was current at the time of publication. Some links above may be directed to third-party websites. U.S. Global Investors does not endorse all information supplied by these websites and is not responsible for their content. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.
Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (03/31/2023):
AP Moller- Maersk
Copa Holdings SA
LVMH Moet Hennessey
Osisko Gold Royalty
Newcrest Mining Ltd
*The above-mentioned indices are not total returns. These returns reflect simple appreciation only and do not reflect dividend reinvestment.
The Dow Jones Industrial Average is a price-weighted average of 30 blue chip stocks that are generally leaders in their industry. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. The Nasdaq Composite Index is a capitalization-weighted index of all Nasdaq National Market and SmallCap stocks. The Russell 2000 Index® is a U.S. equity index measuring the performance of the 2,000 smallest companies in the Russell 3000®, a widely recognized small-cap index.
The Hang Seng Composite Index is a market capitalization-weighted index that comprises the top 200 companies listed on Stock Exchange of Hong Kong, based on average market cap for the 12 months. The Taiwan Stock Exchange Index is a capitalization-weighted index of all listed common shares traded on the Taiwan Stock Exchange. The Korea Stock Price Index is a capitalization-weighted index of all common shares and preferred shares on the Korean Stock Exchanges.
The Philadelphia Stock Exchange Gold and Silver Index (XAU) is a capitalization-weighted index that includes the leading companies involved in the mining of gold and silver. The U.S. Trade Weighted Dollar Index provides a general indication of the international value of the U.S. dollar. The S&P/TSX Canadian Gold Capped Sector Index is a modified capitalization-weighted index, whose equity weights are capped 25 percent and index constituents are derived from a subset stock pool of S&P/TSX Composite Index stocks. The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. The S&P/TSX Venture Composite Index is a broad market indicator for the Canadian venture capital market. The index is market capitalization weighted and, at its inception, included 531 companies. A quarterly revision process is used to remove companies that comprise less than 0.05% of the weight of the index, and add companies whose weight, when included, will be greater than 0.05% of the index.
The S&P 500 Energy Index is a capitalization-weighted index that tracks the companies in the energy sector as a subset of the S&P 500. The S&P 500 Materials Index is a capitalization-weighted index that tracks the companies in the material sector as a subset of the S&P 500. The S&P 500 Financials Index is a capitalization-weighted index. The index was developed with a base level of 10 for the 1941-43 base period. The S&P 500 Industrials Index is a Materials Index is a capitalization-weighted index that tracks the companies in the industrial sector as a subset of the S&P 500. The S&P 500 Consumer Discretionary Index is a capitalization-weighted index that tracks the companies in the consumer discretionary sector as a subset of the S&P 500. The S&P 500 Information Technology Index is a capitalization-weighted index that tracks the companies in the information technology sector as a subset of the S&P 500. The S&P 500 Consumer Staples Index is a Materials Index is a capitalization-weighted index that tracks the companies in the consumer staples sector as a subset of the S&P 500. The S&P 500 Utilities Index is a capitalization-weighted index that tracks the companies in the utilities sector as a subset of the S&P 500. The S&P 500 Healthcare Index is a capitalization-weighted index that tracks the companies in the healthcare sector as a subset of the S&P 500. The S&P 500 Telecom Index is a Materials Index is a capitalization-weighted index that tracks the companies in the telecom sector as a subset of the S&P 500.
The Consumer Price Index (CPI) is one of the most widely recognized price measures for tracking the price of a market basket of goods and services purchased by individuals. The weights of components are based on consumer spending patterns. The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment. Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.
The S&P Global Luxury Index is comprised of 80 of the largest publicly traded companies engaged in the production or distribution of luxury goods or the provision of luxury services that meet specific investibility requirements.
The S&P BSE Sensex Index is a cap-weighted index. The index members have been selected on the basis of liquidity, depth and floating-stock-adjustment depth and industry representation.
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Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by clicking here or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Foreside Fund Services, LLC, Distributor. U.S. Global Investors is the investment adviser.
Bond funds are subject to interest-rate risk; their value declines as interest rates rise. Tax-exempt income is federal income tax free. A portion of this income may be subject to state and local income taxes, and if applicable, may subject certain investors to the Alternative Minimum Tax as well. The Near-Term Tax Free Fund may invest up to 20% of its assets in securities that pay taxable interest. Income or fund distributions attributable to capital gains are usually subject to both state and federal income taxes. The tax free funds may be exposed to risks related to a concentration of investments in a particular state or geographic area. These investments present risks resulting from changes in economic conditions of the region or issuer. 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. 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. The Emerging Europe 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. Stock markets can be volatile and share prices can fluctuate in response to sector-related and other risks as described in the fund prospectus.
Morningstar Ratings are based on risk-adjusted return. The Overall Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance does not guarantee future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating? based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)
Each of the mutual funds or services referred to in the U.S. Global Investors, Inc. website may be offered only to persons in the United States. This website should not be considered a solicitation or offering of any investment product or service to investors residing outside the United States. Certain materials on the site may contain dated information. The information provided was current at the time of publication. For current information regarding any of the funds mentioned in such materials, please visit the fund performance page. Some link(s) above may be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.
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