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Please note: The Frank Talk articles listed below contain historical material. The data provided was current at the time of publication. For current information regarding any of the funds mentioned in these presentations, please visit the appropriate fund performance page.

A Car and Housing Growth Story

January 26, 2010

Tim on Eastern Europe 012610Tim Steinle, co-manager of the Eastern European Fund (EUROX), appeared on Bloomberg’s “Taking Stock” to discuss Emerging Europe with host Pimm Fox. Their conversation covered current trends in Russia, Hungary and Turkey.

Tim explained the near-term benefit of an interest rate hike for Turkey’s automobile, banking and housing sectors.

In December [car] sales were 112 percent [year-over-year]. That’s a huge pickup and we believe that’s driven largely by the 1,500-basis-point reduction Turkey has gone through…Even though the central bank is still sounding dovish, it seems like in 2010 the rates will probably go up at least by 20 basis points.

A few things that investors should know about Turkey’s housing situation – its average population age is 35 and roughly 700,000 new households are created each year. Home ownership is a cultural tradition there, but only 60 percent of households actually own their homes. As the recovery progresses, this could be a positive for both housing and banking.

Watch the Full Interview*

*By clicking the link, you will be directed to a third-party Web site. U.S. Global Investors does not endorse all information supplied by this website and is not responsible for its content. The Istanbul Stock Exchange National 100 Index (XU100) is a capitalization-weighted index composed of National Market companies except investment trusts. The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. The Russian Trading Systems Index is a capitalization-weighted index that is calculated in USD. The index is comprised of stocks traded on the Russian Trading System. Holdings in the Eastern European Fund as a percentage of net assets as of 12/31/09: OTP Bank Plc 3.34%, Sberbank of Russian Federation 10.36%, Ford Otomotiv Sanayi 0.00%, Tofas Turk Otomobil 0.88%, Fiat 0.00%

Net Asset Value
as of 09/28/2020

Global Resources Fund PSPFX $4.71 0.03 Gold and Precious Metals Fund USERX $13.14 0.11 World Precious Minerals Fund UNWPX $5.02 0.09 China Region Fund USCOX $9.33 0.14 Emerging Europe Fund EUROX $5.44 0.01 All American Equity Fund GBTFX $23.65 0.29 Global Luxury Goods Fund USLUX $16.64 0.31 Near-Term Tax Free Fund NEARX $2.25 No Change U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 No Change