Mutual-fund firm tries to shake dismal overseas returns

Article Abstract:

US Global Investors Inc's financial state has become unstable because of escalating fund expenses and continuous revenue drops. The company's losses are caused by its unsuccessful international diversification. Its China Region Opportunity Fund, Global Blue Chip Fund, and Regent Eastern European Fund did not do well in the market. Hence, economic analysts believe that the company's management has the options of either closing down or looking for fresh capital. US Global officials, however, think that its financial condition is not yet in an alarming stage.

United States, Sales, profits & dividends, Asia, U.S. Global Investors Inc.

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Funds expect tough year

Article Abstract:

Analysts are predicting another year of losses for Asian fund managers in 1998 similar to the decline seen in 1997 due to the regional currency crisis. The trend, which is expected to last until the first two quarters of the year, will result in corporate bankruptcies, decreased property prices and reduced sales. Standard and Poor's Micropal Asia Ltd has reported that Asian fund managers lost about 37% of their net asset values in 1997, while other experts predict overall slower economic growth for countries in the region.

Investment Offices, Currency devaluation, Devaluation (Currency)

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