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U.S. Global Investors' Near-Term Tax Free Fund Receives NASDAQ Ticker
Fund's Assets Have Grown 52 Percent Since May 1, 2002
San Antonio – August 1, 2002 – U.S. Global Investors, Inc. (NASDAQ: GROW), a registered investment advisory firm with approximately $1.1 billion in assets under management, proudly announced today that the U.S. Global Investors Funds Near-Term Tax Free Fund will be listed on NASDAQ's Mutual Fund Quotation System under the symbol NEARX beginning this Friday, August 2, 2002.
Although the fund, which invests in short-term municipal bonds, has been in existence for nearly 12 years, recently it has seen a large influx of assets. Since May 1, the Near-Term Tax Free Fund's assets have increased more than 52 percent. According to the Investment Company Institute, it is not the only bond fund experiencing this trend; $12.23 billion flowed into bond funds in June, the third largest inflow into bond funds ever. Municipal Bonds garnered the largest monthly percentage inflow, while equity funds, including money market funds and equity funds, all experienced varying outflows over the same period.
"In today's volatile market, investors are looking for a safe haven to protect their money," says John Derrick, portfolio manager of the Near-Term Tax Free Fund. "While bond funds generally offer security when the stock market falls, municipal bonds, in particular, are even less risky and less volatile, and offer tax savings to investors."
Lipper, USA, a leading provider of fund research and fund intelligence, has awarded the Near-Term Tax Free Fund with the designation of "Lipper Leader" in the "Preservation of Capital" category. This designation recognizes the fund's ability to avoid negative monthly returns over both the short- and long-term.
"Many investors are considering CDs," says Derrick. "But I would caution investors from moving into these types of investment vehicles. Although they can provide stability, the fees associated with withdrawing your money before the term is up can be astronomical, whittling away from the minimal interest already accrued. Our municipal bond fund has no term associated with it."
A comparison of the fund's performance with the S&P 500 and NASDAQ shows that the Near-Term Tax Free Fund would have earned investors a better total return on their money for the 1-, 3-, 5- and 10-year periods. The chart below demonstrates the importance of asset allocation and diversifying your monthly income.
Total Return
1-Year
3-Year
5-Year
10-Year
NEARX
5.65%
16.26%
26.16%
61.87%
S&P 500
-17.99%
-25.09%
19.70%
195.11%
NASDAQ
-32.30%
-45.53%
1.47%
159.62%
Source: Lipper
Data as of 6/30/02
About U.S. Global Investors, Inc.
U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser with approximately $1.1 billion in assets under management that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the Company offers financial solutions and provides transfer agency and other services to U.S. Global Investors Funds and U.S. Global Accolade Funds. The groups consist of 12 no-load mutual funds that invest in a variety of investment options, from emerging markets to money markets.
For more complete information about any U.S. Global fund, including charges and expenses, obtain a prospectus by visiting us at www.usfunds.com, or call 1-800-US-FUNDS. Please read it carefully before you invest or send money. Distributed by U.S. Global Brokerage, Inc.
Lipper Leader for Preservation ratings reflect the degree of a fund's historical success in avoiding periods of losses relative to other funds within the same asset class for the three years ended 06/30/02. The ratings are subject to change every month. Twenty percent of funds analyzed are named Lipper Leaders for Preservation. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Near-Term Tax Free Fund was rated among 37 Short-Intermediate Municipal Debt funds for the three-year period. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader ratings copyright 2001, Reuters, All Rights Reserved.
The Near-Term Tax Free Fund's annualized total return for the 1-, 5- and 10-year periods was 5.65%, 4.76% and 4.93% respectively, as of 6/30/02.
Performance data quoted represent past performance and investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.
The adviser for the Tax Free and Near-Term Tax Free Funds have guaranteed total fund operating expenses (as a percentage of net assets) will not exceed 0.70% through June 30, 2003, or until such later date as the Adviser determines.
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.
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