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Business, Finance, Occupation & Industry

U.S. Global Finalizes Strategic Investment in Toronto-Based Galileo Global Equity Advisors Inc. whic

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By Business Wirevia The Motley Fool

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U.S. Global Finalizes Strategic Investment in Toronto-Based Galileo Global Equity Advisors Inc. which Manages Approximately CA$320 Million in Assets

SAN ANTONIO–(BUSINESS WIRE)– U.S. Global Investors, Inc. (Nasdaq: GROW), a boutique registered investment adviser specializing in natural resources and emerging markets, announced today that the company has completed its agreement to purchase 50 percent of the issued and outstanding shares of Toronto-based Galileo Global Equity Advisors Inc. (Galileo).

Effective March 31, 2013, Galileo’s President, CEO and Chief Investment Officer Michael Waring and U.S. Global each own 50 percent of the outstanding shares of Galileo. Waring continues to have overall responsibility for the investment management activities of Galileo, including management of the Galileo Mutual Funds.

U.S. Global’s CEO and Chief Investment Officer Frank Holmes said, “I’m pleased to be partnering with Galileo, as U.S. Global continues to deploy capital resources to make accretive acquisitions as well as repurchase GROW shares on down days.”

As previously disclosed, U.S. Global has been repurchasing outstanding common stock on the open market on down days using an algorithm, following the rules and regulations that restrict the amounts and times when shares can be purchased. The company will reflect the total buyback purchases from the open market with its upcoming 10-Q filing.


About Galileo Global Equity Advisors Inc.

Founded in 2000 by Michael Waring, Galileo delivers investment advisory and portfolio management services to institutional clients including pension funds, high net worth individuals, corporations and trusts. It also manages the Galileo Mutual Funds (www.galileofunds.ca), which are represented across Canada by independent financial advisors. Galileo currently manages approximately 320 million Canadian dollars in mutual fund assets.


About U.S. Global Investors, Inc.

U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company provides advisory, transfer agency and other services to U.S. Global Investors Funds and other clients.

With an average of $1.68 billion in assets under management in the quarter ended December 31, 2012, U.S. Global Investors manages domestic and offshore funds …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

U.S. Global Announces Lower Shareholder Fees

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By Business Wirevia The Motley Fool

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U.S. Global Announces Lower Shareholder Fees

Also Reduces Investment Minimum and Changes Name of Eastern European Fund

SAN ANTONIO–(BUSINESS WIRE)– U.S. Global Investors, Inc. (Nasdaq: GROW), a boutique registered investment adviser offering actively managed mutual funds for investors and financial advisors who seek alpha in gold, resources and emerging markets, announced improvements to benefit shareholders and help drive asset growth.

One change is the elimination of all redemption fees charged to equity fund shares held longer than seven days. For those equity fund shares held seven days or less, fees have been substantially reduced up to 90 percent, resulting in a charge of 0.05 percent, or a fee of $5 per $10,000 investment.

Redemption fees were historically used across the mutual fund industry to discourage market timers, but improvements in technology and pricing practices have reduced the risk. In the interest of protecting shareholders with a long-term investment horizon, U.S. Global continues to monitor for disruptive short-term market timers.

“We are pleased to make this change while, at the same time, maintaining our high standards of regulatory oversight and exceptional service for our investors,” says Frank Holmes, U.S. Global Investors CEO. “We believe the move to substantially reduce fees makes it easier for our shareholders and our advisors to invest in the funds, increasing the attractiveness of the funds in a highly competitive arena.”

$1 Million Minimum Initial Investment for Institutional Share Class Should Encourage More Institutional Investors

The minimum initial investment for the institutional share class is now $1 million, reduced from $5 million. U.S. Global offers threeinstitutional share class funds, including the Global Resources (PIPFX), World Precious Minerals (UNWIX) and MegaTrends (MEGIX) Funds. This lower initial investment broadens the opportunity for registered investment advisors and other institutional investors.

“Smaller retail accounts are more costly for fund families to service due to the regulatory monitoring and distribution needs. Institutional accounts benefit from economies of scale, which translates into a lower expense ratio,” says Holmes.

The Eastern European Fund (EUROX) Is Now the Emerging Europe Fund

The Eastern European Fund (EUROX) is now known as the Emerging Europe Fund. While the fund maintains the identical investment and stock …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

U.S. Global Investors Continues GROW Dividends

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By Business Wirevia The Motley Fool

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U.S. Global Investors Continues GROW Dividends

SAN ANTONIO–(BUSINESS WIRE)– U.S. Global Investors, Inc. (Nasdaq: GROW), a boutique registered investment adviser specializing in natural resources and emerging markets, will continue its payment of monthly dividends in the second calendar quarter of 2013.

The company’s board of directors approved payment of the $0.005 per share per month dividend beginning in April 2013 and continuing through June 2013. The record dates are April 15, May 13 and June 10, and the payment dates will be April 29, May 28 and June 24.

At the end of this period, the company will have paid monthly dividends for six years. At the March 19, 2013, closing price of $3.71, the $0.005 monthly dividend equals a 1.6 percent yield on an annualized basis.

The continuation of future cash dividends will be determined by U.S. Global’s board of directors, at its sole discretion, after review of the company’s financial performance and other factors, and is dependent on earnings, operations, capital requirements, general financial condition of the company and general business conditions.

About U.S. Global Investors, Inc.

U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company provides advisory, transfer agency and other services to U.S. Global Investors Funds and other clients.

With an average of $1.68 billion in assets under management in the quarter ended December 31, 2012, U.S. Global Investors manages domestic and offshore funds offering a variety of investment options, from emerging markets to money markets.

U.S. Global Investors, Inc.
Susan Filyk, 210-308-1286
Investor Relations
sfilyk@usfunds.com

KEYWORDS:   United States  North America  Texas

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Source: FULL ARTICLE at DailyFinance