A boutique mutual fund and ETF shop's AUM grew by about 20 percent last quarter, even as the S&P 500 fell by 20 percent thanks to the coronavirus crisis.
| Frank E. Holmes|
U.S. Global Investors, Inc.
CEO, Chief Investment Officer
The U.S. Global Investors
] team revealed
on Monday that their AUM rose
by about 20 percent in Q1. (They haven't yet released their AUM figure for March 31, but it's probably about $600 million, as they had $507.6 million in AUM at the end of 2019.
The San Antonio-based firm's growth was driven by big inflows into the U.S. Global Jets ETF
(JETS), which saw its AUM rise 480.8 percent in Q1, ending at $302 million on March 31.
Meanwhile, it looks like shares in U.S. Global Investors (GROW on the Nasdaq) may be starting to reflect that AUM growth. They priced at $1.02 at market close yesterday, down nine percent year-over-year but up 5.2 percent since March 31, 2020. The S&P is down 8.2 percent year-over-year and up 2.9 percent since March 31, 2020.
Stay ahead of the news ... Sign up for our email alerts now