San Antonio, TX, Dec. 17, 2020 (GLOBE NEWSWIRE) -- 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.

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.