Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Texas Fund Firm's Average AUM and Net Outflows Fall Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 20, 2019

A Texas Fund Firm's Average AUM and Net Outflows Fall

Reported by InvestmentWires Staff, 

Shareholders redemptions contributed to a 13 percent decrease in average assets under management at a Texas fund firm.

Frank E. Holmes
U.S. Global
CEO, Chief Investment Officer
The team at San Antonio-based U.S. Global Investors released their fiscal Q1 2020 earnings on November 8, 2019, and they had a net loss of $3.6 million for the quarter ending September 30, 2019, which was partly due to a decrease in operating revenue.

Frank Holmes, CEO and CIO of U.S. Global Investors, stated that despite volatility in their investments in the cryptocurrency and artificial intelligence industry through HIVE and GoldSpot, "HIVE reported a healthy first fiscal quarter ended June 30, with positive net income and positive cash flow. HIVE generated net income of $5.6 million" after mining over 1,000 Bitcoin throughout the quarter. Holmes also states that U.S. Global Investors' investment in GoldSpot is doing well thanks to "artificial intelligence (AI) and machine learning geological consulting agreements with Vale S.A., Hochschild Mining and Yamana Gold."

In an earnings call (as transcribed by Seeking Alpha, Holly Schoenfeldt, marketing and public relations manager at U.S. Global Invesetors, stated that "a majority of [U.S. Global Investors Funds'] mutual fund assets are in emerging markets and natural resources, while 32 percent are in domestic equities and fixed income.” Furthermore, more than 75 percent of assets come from retail investors while the rest comes from institutional investors.

U.S. Global Investors' average AUM was $541 million as of the quarter ended September 30, 2019, a 4 percent decrease compared to $564 million as of the quarter ended June 30, 2019 and a 13 percent decrease compared to $624 million as of the quarter ended September 30, 2018. The decrease in AUM was mainly due to net shareholder redemptions totaling $16 million as of the quarter ended September 30, 2019, down 11.6 percent compared to total net shareholder redemptions of $18 million as of the quarter ended September 30, 2018. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use