A Good Year to be "Bad?"

The fund (ticker:   VICEX) was up 17.76% in 2007, according to a press release.   The fund, a 5-Star Overall Morningstar Rated fund has assets over $177 million and a cumulative return since inception (8/30/2002 through 12/31/2007) of 142.35%, according to the firm.

Co-managed by Charles L. Norton and Allen R. Gillespie, the 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.

For more information on the Vice Fund, including charges and expenses, call 1-866-264-8783 or log on to www.vicefund.com

Gross Expense Ratio: 1.90%

Net Expense Ratio:* 1.75%

*The Advisor has a contractual agreement to waive fees through 07/31/17.