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INVESTMENT MANAGEMENT AND OTHER FEES | 12 Months Ended
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Jun. 30, 2018
Investment Management and Other Fees [Abstract] |
Investment Management and Other Fees [Text Block] | NOTE 4. INVE STMENT MANAGEMENT AND OTHER FEES The Company generates a majority of all of its operating revenues from managing and servicing USGIF. 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 $4.4 million and $4.9 million, respectively, for the years ended June 30, 2018, and 2017. 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 if 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 years ended June 30, 2018, and 2017, the Company realized a decrease in its base advisory fee of $539,000 and $49,000, respectively, due to these performance adjustments. The Company has agreed to contractually limit the expenses of the Near-Term Tax Free Fund through April 2019. The Company has voluntarily waived or reduced its fees and/or agreed to pay expenses on the remaining USGIF 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 were $637,000 and $1.0 million for the years ended June 30, 2018, and 2017, respectively. USGIF revenue included on the Consolidated Statements of Operations is net of fee waivers. Management cannot predict the impact of future waivers due to 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 of 0.05 percent per investor class and 0.04 percent per institutional class of each fund. The Company recorded administrative services fees of $248,000 and $284,000 in fiscal years 2018 and 2017, respectively. As of June 30, 2018, the Company had $419,000 in receivables from fund clients, of which $321,000 was from USGIF. As of June 30, 2017, the Company had $396,000 in receivables from fund clients, of which $287,000 was from USGIF. The Company also serves as investment advisor to two exchange-traded funds (ETFs). The U.S. Global Jets ETF (ticker JETS) commenced operations in April 2015, and U.S. Global GO GOLD and Precious Metal Miners ETF (ticker GOAU) commenced operations in June 2017. The Company receives a unitary management fee of 0.60 percent of average net assets and has agreed to bear all expenses of the ETFs. The Company recorded ETF advisory fees totaling $701,000 and $357,000 in fiscal 2018 and 2017, respectively. The Company provided advisory services to offshore clients and received a monthly advisory fee based on the net asset values of the clients and performance fees based on the overall increase in net asset values, if any. The Company recorded advisory fees from these clients totaling $3,000 and $135,000 for the years ended June 30, 2018, and 2017, respectively. The Company recorded no performance fees from these clients for fiscal years 2018 and 2017. The offshore clients liquidated during fiscal year 2018. 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 $960,000 and $1.1 million for the years ended June 30, 2018, and 2017, respectively. Galileo may also receive performance fees from certain clients when market appreciation or realized net gains exceeds established benchmarks. Galileo recorded performance fees of $464,000 from these clients for the year ended June 30, 2018. The majority of the performance fees recorded in the current fiscal year are annual performance fees calculated at calendar year-end. Galileo recorded no performance fees for fiscal year 2017. Galileo may, at its discretion, waive and absorb some of its clients’ operating expenses. The amount of expenses waived and absorbed was $88,000 and $53,000 for the years ended June 30, 2018, and 2017, respectively. On September 29, 2017, Galileo launched its first ETF, U.S. Global GO GOLD and Precious Metal Miners ETF (Canadian ticker GOGO), on the Toronto Stock Exchange. GOGO is the Canadian version of GOAU. Galileo also started accepting purchases in its Partners Fund, a unit trust investment fund, in June 2017 and launched its Technology and Blockchain Fund, also a unit trust investment fund, in November 2017.

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