- GROW is a two-part story: company specific initiatives and macro dependence.
- On the company specific side, assets under management have been under pressure in recent years, but the company is taking a controlling position in its Canadian joint venture and launching ETF products in order to revive AUM.
- On the macro side, the company's performance is highly correlated with the price of gold, and demand for gold and natural resource funds will be the main driver of AUM.
US Global Investors (NASDAQ:GROW) has had an impressive this year (up 50% YTD). After reviewing the company, I think investors need to understand that GROW is a two-part story: A company-specific story that is intertwined with a...