U.S. Global Investors [www.usfunds.com]

Separating Winners from Losers in the Gold Mining Industry

Portfolio manager Ralph Aldis spoke recently with Kevin Michael Grace of The Gold Report about what can separate the winners from the losers in the gold mining industry. Ralph admits that good management is key, but adds that the Five Principles of Capital Allocation as outlined by Credit Suisse, along with the valuation of assets, are all needed to determine success.

Ralph not only explains the meaning behind each of the five principles in this interview, but he also names over 10 gold mining companies he feels are doing things right. Click here to read the full article.

If you want to learn more about Ralph’s background as a precious metals expert, be sure to download our latest Shareholder Report magazine. He is profiled in Minute With the Manager on page 14.

Minute with the Manager

Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS (1-800-873-8637). Read it carefully before investing. Distributed by U.S. Global Brokerage, Inc.

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.

Because the Global Resources Fund concentrates its investments in specific industries, the fund may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries. Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk.

Past performance does not guarantee future results. All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. This news release may include certain “forward-looking statements” including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. Fund portfolios are actively managed, and holdings may change daily.

Fund portfolios are actively managed, and holdings may change daily. Holdings are reported as of the most recent quarter-end. Holdings in the Gold and Precious Metals Fund, Global Resources Fund and World Precious Minerals Fund as a percentage of net assets as of 12/31/2014: Agnico Eagle Mines Ltd (Gold and Precious Metals 1.58%, World Precious Minerals 0.57%), Allied Nevada Gold Corp 0.00%, Barrick Gold Corp 0.00%, Claude Resources Inc. 0.00%, Coeur Mining Inc. 0.00%, Dalradian Resources Inc. (World Precious Minerals 1.18%), Elgin Mining 0.00%, Falco Resources Ltd (World Precious Minerals 0.01%), First Majestic Silver Corp (Gold and Precious Metals Fund 1.04%, World Precious Minerals Fund 0.01%), Fortuna Silver Mines Inc. (Gold and Precious Metals Fund 2.90%, World Precious Minerals Fund 1.32%), Franco-Nevada Corp (Gold and Precious Metals Fund 6.97%, World Precious Minerals Fund 1.32%), Goldcorp Inc. (Gold and Precious Metals Fund 1.03%), Integra Gold Corp (World Precious Minerals Fund 0.40%), Kinross Gold Corp (Gold and Precious Metals Fund 0.02%, World Precious Minerals Fund 0.01%), Kirkland Lake Gold Inc. (Gold and Precious Metals Fund 3.61%, World Precious Minerals Fund 0.93%), Klondex Mines Ltd (Gold and Precious Metals Fund 10.00%, Global Resources Fund 1.84%, World Precious Minerals Fund 9.78%), Lake Shore Gold Corp (Gold and Precious Metals Fund 1.60%, World Precious Minerals Fund 0.32%), Mandalay Resources Corp (Gold and Precious Metals Fund 3.38%, World Precious Minerals Fund 2.28%), Market Vectors Gold Miners ETF (World Precious Minerals 0.01%), Market Vectors Junior Gold Miners ETF 0.00%, Orex Minerals Inc. (World Precious Minerals Fund 2.14%), Osisko Gold Corp 0.00%, Pretium Resources Inc. (World Precious Minerals Fund 3.35%), Primero Mining Corp (Gold and Precious Metals Fund 0.02%, World Precious Minerals Fund 0.01%), Randgold Resources Ltd (Gold and Precious Metals Fund 2.30%, World Precious Minerals Fund 1.43%), Richmont Mines Inc. (Gold and Precious Metals Fund 2.02%, World Precious Minerals Fund 1.68%), Rio Alto Mining Ltd (Gold and Precious Metals Fund 1.54%, World Precious Minerals Fund 0.59%), Romarco Minerals Inc. (World Precious Minerals Fund 0.61%), Royal Gold Inc. (Gold and Precious Metals Fund 5.99%, Global Resources Fund 1.27%, World Precious Minerals Fund 1.51%), Rye Patch Gold Corp (World Precious Minerals Fund 0.92%), Silver Standard Resources Inc. (Gold and Precious Metals Fund 0.09%, World Precious Minerals Fund 0.09%), Silver Wheaton Corp (Gold and Precious Metals Fund 1.36%, World Precious Minerals Fund 0.45%), Tahoe Resources Inc. (Global Resources Fund 1.52%), Yamana Gold Inc. (Gold and Precious Metals Fund 2.00%, World Precious Minerals Fund 0.54%).

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