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INVESTMENT MANAGEMENT AND OTHER FEES | 6 Months Ended
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Dec. 31, 2016
Investment Management And Other Fees [Abstract] |
Investment Management And Other Fees [Text Block] | NOTE 3. INVESTMENT MANAGEMENT AND OTHER FEES The Company serves as investment adviser to USGIF and receives a fee based on a specified percentage of net assets under management. The Company recorded base advisory fees from USGIF totaling $1.2 million and $2.6 million, respectively, for the three and six months ended December 31, 2016, compared with $879,000 and $1.8 million, respectively, for the corresponding periods in the prior fiscal year. The advisory agreement for the equity funds within USGIF provides for a base advisory fee that is adjusted upwards or downwards by 0.25 percent when there is a performance difference of 5 percent or more between a fund’s performance and that of its designated benchmark index over the prior rolling 12 months. For the three and six months ended December 31, 2016, the Company realized a (decrease) increase in its base advisory fees from USGIF of ($9,000) and $30,000, respectively. For the corresponding periods in the prior fiscal year, base advisory fees were adjusted downward by $70,000 and $238,000, respectively. The Company has agreed to contractually limit the expenses of the Near-Term Tax Free Fund through April 2017. The Company has voluntarily waived or reduced its fees and/or agreed to pay expenses on the remaining funds. These caps will continue on a voluntary basis at the Company’s discretion. The aggregate fees waived and expenses borne by the Company for USGIF for the three and six months ended December 31, 2016, were $313,000 and $546,000, respectively, compared with $373,000 and $751,000, respectively, for the corresponding periods in the prior fiscal year. Management cannot predict the impact of future waivers due the number of variables and the range of potential outcomes. The Company receives administrative service fees from USGIF based on the average daily net assets at an annual rate 0.05 percent per investor class and 0.04 percent per institutional class of each fund. Effective December 10, 2015, the agreement was amended and the level of administrative services performed and corresponding fees was reduced. Prior to the amendment, the administrative fees were at an annual rate of 0.10 percent per investor class and 0.08 percent per institutional class of each fund, plus a base fee of $7,000 per fund. As of December 31, 2016, the Company had $516,000 in receivables from fund clients, of which $347,000 was from USGIF. The Company also serves as investment adviser to an exchange traded fund (“ETF’) client, U.S. Global Jets ETF, which commenced operations in April 2015. The Company receives a unitary management fee of 0.60 percent of average net assets and has agreed to bear all expenses of the ETF. The Company recorded ETF advisory fees totaling $76,000 and $142,000, respectively, for the three and six months ended December 31, 2016, compared with $73,000 and $143,000, respectively, for the corresponding periods in the prior fiscal year. The Company provides advisory services for offshore clients and receives advisory fees based on the net asset values of the clients and performance fees, if any, based on the overall increase in net asset values. The Company recorded advisory fees from these clients of $32,000 and $68,000, respectively, for the three and six months ended December 31, 2016, compared with $22,000 and $44,000, respectively, for the corresponding periods in the prior fiscal year. The Company recorded no performance fees from these clients for the three and six months ended December 31, 2016, and 2015. Frank Holmes, CEO, serves as a director of the offshore clients. Galileo provides advisory services for clients in Canada and receives advisory fees based on the net asset values of the clients. Galileo recorded advisory fees from these clients totaling $303,000 and $603,000, respectively, for the three and six months ended December 31, 2016, compared with $293,000 and $623,000, respectively, for the corresponding periods in the prior fiscal year.

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