FYI: San Antonio-based U.S. Global Investors Inc. (NASDAQ: GROW) an investment firm with a history in mutual funds, reported significant net losses in the fourth quarter of 2015 of more than $2 million and is restructuring the company to gain a better foothold in the future
The company trimmed back its local workforce from about 65 employees down to 26 workers, but expenses went up during the quarter due to severance packages offered. In exchange, the firm outsourced administrative and fund accounting to Maine-based Atlantic Fund Services and is doubling down on its most profitable service, an exchange trading fund that is focused on the airline industry.
Regards,
Ted
http://www.mfwire.com/common/artprint2007.asp?storyID=53480&wireid=2
