All American Fund
Bookmark and Share Print    Email

  

Use the player below to listen to a podcast of the commentary, or use the link to subscribe to the RSS feed.

RSS

July 2010

Strengths

  • The fund benefited from its materials exposure. This was the best performing sector for the month and the fund had exposure to the fertilizer and agricultural chemical group. This was the second-best performing group in July.
  • The fund benefited from its underweight position in healthcare. This was the worst sector in terms of performance for July.

Weaknesses

  • The All American Equity Fund lagged its benchmark, the S&P 500 Index, in July.
  • The fund was negatively impacted by its overweight position in gold as gold was the worst performing group in the S&P 500 in July.
  • The fund was underweight the industrials sector which was the second-best performing sector during the month.

Opportunities

  • The global economies appear to be on a growth trajectory again as the liquidity injection of 2009 has done its job.
  • Many companies have built up cash levels that could provide a backdrop that is favorable for merger and acquisition activity.

Threats

  • The global liquidity that provided a boost to markets in 2009 may be coming to an end in 2010. This would be a headwind for stocks.
  • A slowdown in the global economy could mean weaker demand for commodities.

Past performance does not guarantee future results.

The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.


How To Invest | Access My Account | Investment Professionals | Explore Our Funds

U.S. Global Investors • 7900 Callaghan Road San Antonio, Texas 78229 • 1-800-US-Funds
© Copyright 2009, U.S. Global Investors, Inc. All Rights Reserved. Distributed by U.S. Global Brokerage, Inc.

Prospectus | Privacy Policy | Terms of Use Agreement | Policies and Procedures | Contact Us