All American Equity Fund Merges with Global Luxury Goods Fund (USLUX)
December 17 2020 - 4:05PM
U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a
boutique registered investment advisory firm with longstanding
experience in global markets and specialized sectors, is pleased to
announce that its All American Equity Fund will merge with the
Global Luxury Goods Fund (USLUX). Shareholders approved the merger,
which is expected to be reorganized on December 22, 2020.
USLUX became the only U.S.-based mutual fund that focuses on the
global luxury industry when it made its debut on July 1, 2020. The
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
desirable within a culture or society.
“No doubt many people thought it inadvisable to put out a luxury
goods fund in the middle of a pandemic and economic pullback, but
I’m thrilled to say that USLUX has so far exceeded all of our
expectations,” commented Frank Holmes, the Company’s CEO and chief
investment officer. “Many of the fund’s stocks have performed well
since its July debut, including Tesla, the fund’s largest holding;
Apple; Prada; and giant luxury conglomerate LVMH.”
From its inception to December 14, the fund has increased
29.49%, beating its benchmark, the S&P 1500 Composite Index,
which rose 18.82% over the same period.
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About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years
when it began as an investment club. Today, U.S. Global Investors,
Inc. (www.usfunds.com) is a registered investment adviser that
focuses on niche markets around the world. Headquartered in San
Antonio, Texas, the Company provides money management and other
services to U.S. Global Investors Funds and U.S. Global ETFs.
Forward-Looking Statements and Disclosure
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.
Total Annualized Returns as of 9/30/2020:
Fund |
One-Year |
Five-Year |
Ten-Year |
Gross Expense Ratio |
Global Luxury Goods Fund |
1.59% |
6.59% |
6.56% |
1.70% |
S&P 1500 Composite Index |
13.42% |
13.59% |
13.46% |
n/a |
Expense ratios as stated in the most recent prospectus.
Performance data quoted above is historical. Past performance is no
guarantee of future results. Results reflect the reinvestment of
dividends and other earnings. For a portion of periods, the fund
had expense limitations, without which returns would have been
lower. Current performance may be higher or lower than the
performance data quoted. The principal value and investment return
of an investment will fluctuate so that your shares, when redeemed,
may be worth more or less than their original cost. Performance
does not include the effect of any direct fees described in the
fund’s prospectus which, if applicable, would lower your total
returns. Performance quoted for periods of one year or less is
cumulative and not annualized. Obtain performance data current to
the most recent month-end at www.usfunds.com or 1-800-US-FUNDS.
This news release and other statements by U.S. Global Investors
may include certain “forward-looking statements,” including
statements relating to revenues, expenses and expectations
regarding market conditions. You can identify these forward-looking
statements by the use of words such as “outlook,” “believes,”
“expects,” “potential,” “opportunity,” “seeks,” “anticipates” or
other comparable words. Such statements involve certain risks and
uncertainties and should be read with corporate filings and other
important information on the Company’s website, www.usfunds.com, or
the Securities and Exchange Commission’s website at
www.sec.gov.
These filings, such as the Company’s annual report and Form
10-Q, should be read in conjunction with the other cautionary
statements that are included in this release. Future events could
differ materially from those anticipated in such statements and
there can be no assurance that such statements will prove accurate
and actual results may vary. The Company undertakes no obligation
to publicly update or review any forward-looking statements,
whether as a result of new information, future developments or
otherwise.
Investing involves risk, including the possible loss of
principal. Companies in the consumer discretionary sector are
subject to risks associated with fluctuations in the performance of
domestic and international economies, interest rate changes,
increased competition and consumer confidence. The performance of
such companies may also be affected by factors relating to levels
of disposable household income, reduced consumer spending, changing
demographics and consumer tastes, among others.
The S&P 1500 Composite Index is a broad-based
capitalization-weighted index of 1,500 U.S. companies and is
comprised of the S&P 400, S&P 500 and the S&P 600. One
cannot invest directly in an index.
Fund portfolios are actively managed, and holdings may change
daily. Holdings are reported as of the most recent quarter-end.
Fund holdings should not be considered a recommendation to buy or
sell any security. Holdings in the Global Luxury Goods Fund as a
percentage of net assets as of 9/30/2020: Tesla Inc. 8.23%, LVMH
Moet Hennessy Louis Vuitton 4.30%, Apple Inc. 3.46%, Prada SpA
2.74%.
Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
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