Vice Fund Finishes the Year 2007 up 17.76%
10 Gennaio 2008 - 3:00PM
Business Wire
Vice Fund (Nasdaq:VICEX) achieved strong results for the year 2007,
with the fund up 17.76 percent. Vice Fund, a 5-Star Overall
Morningstar Rated fund among 1623 Large Blend funds as of 12/31/07,
has assets over $177 million and a cumulative return since
inception (8/30/2002 through 12/31/2007) of 142.35 percent. The
Overall Morningstar RatingTM for a fund is derived from a weighted
average of the performance figures associated with its three-,
five- and ten-year (if applicable) Morningstar Ratings metrics,
which are based on risk-adjusted performance. � � � � Average
Annual Returns As of December 31, 2007 � 1 Year � 3 Years
Annualized � 5 Years Annualized � Since Inception (8/30/02)
Annualized Vice Fund 17.76% 15.56% 20.85% 18.04% S&P 500 Index1
� 5.49% � 8.61% � 12.81% � 11.26% Gross Expense Ratio: 1.90% Net
Expense Ratio:* 1.75% *The Advisor has a contractual agreement to
waive fees through 07/31/17. Performance data quoted represents
past performance and does not guarantee future results. The
investment return and principal value of an investment will
fluctuate so that an investor's shares, when redeemed, may be worth
more or less than their original cost. Current performance of the
fund may be lower or higher than the performance quoted. The fund
imposes a 1.00% redemption fee on shares held less than 60 days.
Performance does not reflect redemption fee. Had the fee been
included, returns would be lower. Performance data current to the
most recent month end may be obtained by calling 1-866-264-8783 or
visiting www.vicefund.com. Co-managed by Charles L. Norton and
Allen R. Gillespie, Vice Fund is a non-diversified mutual fund
focusing its investments in global opportunities within four
industries: gaming, alcoholic beverages, tobacco and
aerospace/defense. The Fund seeks long-term growth of capital by
investing primarily in equity securities of companies of all
capitalizations. Norton said, �We are pleased that the fund has
achieved such strong results in 2007, and we�re proud of our
long-term track record. We continue to focus on economically
independent growth and our target sectors, being defensive in
nature, tend to be resilient in all types of economic and market
environments. �As investors focus on the issues of the day like a
deteriorating credit market and subprime lending, we take a
long-term approach, honing in on defensive sectors that we believe
are well positioned to benefit when the economy is moderating and
the broad market is struggling,� said Norton. According to Lipper,
Vice Fund�s five-year return through December 31, 2007 ranks it in
the top 2 percent among 507 funds in the multi-cap core category,
based on total fund returns. The Fund also ranks in the top 3
percent among 669 funds for the three-year period ended December
31, 2007, as well as in the top 4 percent among 883 funds for the
one-year period. For more information on the Vice Fund, including
charges and expenses, call 1-866-264-8783 or log on to
www.vicefund.com. Mutual fund investing involves risk; principal
loss is possible. The Fund is non-diversified, meaning it may
concentrate its assets in fewer individual holdings than a
diversified fund. Therefore, the Fund is more exposed to individual
stock volatility than a diversified fund. The Fund invests in
foreign securities which involve greater volatility and political,
economic and currency risks and differences in accounting methods.
The Fund also invests in smaller companies, which involve
additional risks such as limited liquidity and greater volatility.
The funds' investment objectives, risks, charges and expenses must
be considered carefully before investing. The prospectus contains
this and other important information about the investment company,
and it may be obtained from www.vicefund.com, or by calling
Shareholder Services toll free at 866-264-8783. Read it carefully
before investing. Lipper Analytical Services, Inc. is an
independent mutual fund research and rating service. Each Lipper
average represents a universe of Funds with similar invest
objectives. Rankings for the periods shown are based on Fund total
returns with dividends and distributions reinvested and do not
reflect sales charges. � 2007 Morningstar, Inc. All Rights
Reserved. The information contained herein: (1) is proprietary to
Morningstar; (2) may not be copied or distributed; and (3) is not
warranted to be accurate, complete or timely. Neither Morningstar
nor its content providers are responsible for any damages or losses
arising from any use of this information. Past performance is no
guarantee of future results. For each fund with at least a
three�year history, Morningstar calculates a Morningstar RatingTM
(based on a Morningstar Risk-Adjusted Return measure that accounts
for variation in a fund�s monthly performance, including the
effects of sales charges, loads, and redemption fees), placing more
emphasis on downward variations and rewarding consistent
performance. The top 10% of funds in each category receive 5 stars,
the next 22.5% receive 4 stars, the next 35% receive 3 stars, the
next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each
share class is counted as a fraction of one fund within this scale
and rated separately, which may cause slight variations in the
distribution percentages.) The Overall Morningstar Rating for a
fund is derived from a weighted average of the performance figures
associated with its three-, five- and ten-year (if applicable)
Morningstar Rating metrics. Vice Fund was rated against the
following numbers of U.S. domiciled Large Blend funds over the
following time periods: 1,623 funds in the last three years and
1,278 funds in the last five years. With respect to these Large
Blend funds, Vice Fund received a Morningstar Rating of 5 stars for
the three and five year periods respectively. Past performance is
no guarantee of future results. The Standard & Poor�s 500 Stock
Index (S&P 500) is an unmanaged index generally representative
of the U.S. Stock market, without regard to company size. The
performance of any index is not indicative of the performance of
any particular investment. Unless otherwise noted, index returns
reflect the reinvestment of income dividends and capital gains, if
any, but do not reflect fees, brokerage commissions, or other
expenses of investing. Investors may not make direct investments
into any index. Quasar Distributors, LLC, distributor. (1/08)
Grafico Azioni Usa Mutuals Vice Fund-Investor Class (MM) (NASDAQ:VICEX)
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