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The U.S. Global Story

Our investment team is led by U.S. Global Investors Chief Investment Officer Frank Holmes. Mr. Holmes leads a unique investment team that brings knowledge and experience in a variety of fields.

Frank E. Holmes

Chief Investment Officer

Frank Holmes is CEO and Chief Investment Officer of U.S. Global Investors, Inc., a registered investment adviser managing no-load mutual funds specializing in natural resources, emerging markets and global infrastructure.

The company’s funds have received numerous awards and honors during Mr. Holmes’ tenure, including more than two dozen Lipper Fund Awards and certificates.

Mr. Holmes was selected as the 2006 mining fund manager of the year by Mining Journal, a leading publication for the global natural resources industry. He is also the co-author of “The Goldwatcher: Demystifying Gold Investing.”

He is engaged in a number of international philanthropies. He is a member of the President’s Circle and on the investment committee of International Crisis Group, which works to resolve conflict around the world. He is also an advisor to the William J. Clinton Foundation on sustainable development in countries with resource-based economies.

Before purchasing a controlling interest in U.S. Global Investors in 1989, Mr. Holmes worked as a research analyst, portfolio manager and managing director of corporate finance with a Canadian firm. He is a former president and chairman of the Toronto Society of the Investment Dealers Association, and he has served on the Toronto Stock Exchange’s Listing Committee.

Mr. Holmes is a much-sought-after keynote speaker at national and international investment conferences. He is also a regular commentator on the financial television networks CNBC and Bloomberg, and has been profiled by Fortune, Barron’s, The Financial Times and other publications.

John Derrick, CFA

Director of Research
Portfolio Manager

John Derrick joined U.S. Global Investors in January 1999 as an investment analyst for the U.S. Global Investors money market and tax-free funds. In March 2004, he was promoted from Portfolio Manager to Director of Research where he manages the day-to-day operations of the investment team. Mr. Derrick monitors Fed policy and other macroeconomic factors affecting the U.S. economy and the broader global landscape. Mr. Derrick also analyzes securities, both stocks and bonds, as co-manager of several U.S. Global equity funds. Prior to joining U.S. Global Investors, Mr. Derrick worked at Fidelity Investments.

With his 10+ years of experience in investments, Mr. Derrick has developed an expertise on the Federal Reserve and interest rates, as well as their impact on the U.S. economy. His specialties lie in U.S. Treasuries, government securities and municipal bonds.

Mr. Derrick also serves on the management team of several equity funds for U.S. Global Investors. Mr. Derrick uses his experience to guide management of the Eastern European Fund and the global infrastructure-themed Global MegaTrends Fund.

A graduate of The University of Texas at Arlington, Mr. Derrick earned a bachelor of arts in finance. Mr. Derrick sits on the board of directors for the CFA Society of San Antonio.

Ralph P. Aldis, CFA

Portfolio Manager

Ralph Aldis rejoined U.S. Global Investors as senior mining analyst in November 2001. He is responsible for analyzing gold and precious metals stocks for the World Precious Minerals Fund (UNWPX) and the Gold and Precious Metals Fund (USERX). Mr. Aldis also works with the portfolio management team of the Global Resources Fund (PSPFX) to provide tactical analyses of base metal, paper, chemical, steel and non-ferrous industries.

Previously, Mr. Aldis worked for Eisner Securities, where he was an investment analyst for its high net worth group and oversaw its mutual fund operations. Before joining Eisner Securities, Mr. Aldis worked for 10 years as director of research for U.S. Global Investors, where he applied quantitative skills towards stocks, portfolio tilting, cash optimization and performance attribution analysis.

Mr. Aldis received a Master’s in Energy and Mineral Resources from the University of Texas at Austin in 1988 and a Bachelor of Science in Geology, Cum Laude, in 1981, from Stephen F. Austin University. Mr. Aldis is a member of the CFA Society of San Antonio.

Romeo A. Dator, CFA

Portfolio Manager

Romeo Dator joined the U.S. Global Investors investment team in 2002. Mr. Dator is a member of the portfolio management team for the All American Equity Fund (GBTFX), the China Region Fund (USCOX), the Holmes Growth Fund (ACBGX), the Global MegaTrends Fund (MEGAX), and the Global Emerging Markets Fund (GEMFX).  Mr. Dator uses both top-down factors and bottom-up analysis to manage the fund portfolios.

Prior to joining U.S. Global Investors, Mr. Dator was a senior equity analyst at USAA Investment Management Company where he was responsible for multiple sector coverage across all market capitalizations. He also developed quantitative screening models to aid in stock selection. Mr. Dator also served as an equity analyst at Barnett Capital Advisors in Florida.

Mr. Dator holds a master’s of business administration in finance from the Roy E. Crummer School of Business, Rollins College, Winter Park, Florida. He also attended Duke University where he earned a bachelor of science degree in Psychology. Mr. Dator is a member of the CFA Society of San Antonio.

Jack Dzierwa

Portfolio Manager
Global Strategist

Jack Dzierwa is global strategist at U.S. Global Investors. Mr. Dzierwa, a citizen of Poland, Canada and the United Kingdom, has significant experience in the international equity sector.

As a co-portfolio manager, he researches and analyzes companies considered for selection in the Eastern European Fund (EUROX), the Global Emerging Markets Fund (GEMFX) and the Global MegaTrends Fund (MEGAX).

He was formerly a director in the emerging markets research department at ING Financial Markets in London. He also spent eight years at Salomon Brothers, both as a Canadian bank analyst in Toronto and in following Polish equities in London. In addition, Mr. Dzierwa has worked at the Bank of Nova Scotia, at Procter & Gamble in Germany and as a consultant at beverage maker FEMSA in Mexico.

He earned an M.B.A. at the University of Chicago after completing his undergraduate studies at the London School of Economics. He has also studied at Cambridge University and at the University of Grenoble.

Brian K. Hicks, CFA

Portfolio Manager

Brian Hicks joined U.S. Global Investors in 2004 as a co-manager of the company’s Global Resources Fund (PSPFX). Mr. Hicks is responsible for portfolio allocation, stock selection and research coverage for the energy and basic materials sectors.

Prior to joining U.S. Global Investors, Mr. Hicks was an associate oil and gas analyst for A.G. Edwards Inc., where he covered domestic exploration and production companies, and was responsible for maintaining earnings and cash flow valuation models.

He also worked previously as an institutional equity/options trader and liaison to the foreign equity desk at Charles Schwab & Co., and at Invesco Funds Group, Inc. as an industry research and product development analyst.

Mr. Hicks holds a Master’s of Science degree in Finance, and a B.S. in Business Administration from the University of Colorado.

Evan W. Smith, CFA

Portfolio Manager

Evan Smith joined U.S. Global Investors in 2004 as co-portfolio manager of the Global Resources Fund (PSPFX). Previously, he was a trader with Koch Capital Markets in Houston where he executed quantitative long-short equities strategies.

Mr. Smith was also an equities research analyst with Sanders Morris Harris in Houston where he followed energy companies in the oil and gas, coal mining, and pipeline sectors. In addition, Mr. Smith was with the Valuation Services Group of Arthur Andersen LLP. Mr. Smith holds a B.S. in Mechanical Engineering from the University of Texas in Austin.

Tim Steinle, CFA

Portfolio Manager
Quantitative Analyst

Tim Steinle joined U.S. Global Investors as a quantitative analyst in November 2008. Mr. Steinle performs analyses of individual companies and macro themes as co-portfolio manager of the Eastern European Fund (EUROX) and Global Emerging Markets Fund (GEMFX).

Mr. Steinle was formerly a risk manager for Valero Energy Corporation from 2001 through 2008. He also managed the development of fixed-income and foreign exchange trading systems at Enron Capital & Trade and served as an analyst at Procter & Gamble for three years.

Mr. Steinle earned an MBA in Computational Finance at the University of Texas at Austin in 1996. He completed his undergraduate studies in Electrical Engineering at the Azeri Petroleum Institute in Baku and is fluent in Russian. Mr. Steinle is a member of the CFA Society of San Antonio.

Net Asset Value
as of 03/12/2010