What Does Vice Fund Manager Think of Prop 19?

DALLAS, Oct. 28 /PRNewswire/ -- Jeff Middleswart, Portfolio Manager of the Vice Fund (Nasdaq: VICEX), does not see Proposition 19, also known as the Regulate, Control and Tax Cannabis Act of 2010, creating any immediate investment opportunities for shareholders of the Vice Fund.  According to Middleswart, "We look for companies which can offer strong and consistent cash flows, large barriers to entry and inelastic demand.  For us, a good investment needs 'moats' - advantages that rival firms have difficulty replicating. We simply do not see such moats existing, at least at this time, within the commercial marijuana marketplace."

The Vice Fund has outpaced the S&P 500 Index since its inception, August 30, 2002 and also outperformed the S&P 500 Index by over 500 basis points for the year to date period ending 9.30.2010.

*The gross expense ratio for the Vice Fund is 2.01%. The Advisor has a contractual agreement to limit the Fund's total annual fund operating expenses to 1.85% of average net assets of the Fund through 07/31/11.

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 Funds may be lower or higher then the performance quoted.  The Fund imposes a 1.00% redemption fee on shares held less than 60 days.  Performance does not reflect the redemption fee.  Had the fee been included, returns would be lower.  Performance data current to the most recent month end can be obtained by calling 866.264.8783 or by visiting vicefund.com.

About the Vice Fund:

The Vice Fund (VICEX) is a no load mutual fund which primarily invests in stocks in the tobacco, alcohol, gaming and defense industries. We believe these industries tend to thrive regardless of the economy as a whole. These companies have historically produced high cash flow and dividends. We believe astute stock selection in these industries can provide investors with a portfolio poised for potentially long-term "defensive growth."  For additional information on the Vice Fund, speak to your Financial Advisor, call 866.264.8783 or visit www.ViceFund.com

While the fund is no-load, management and other expenses still apply. Please refer to the prospectus for further details.

The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other information about the investment company, and they may be obtained by contacting 866.264.8783 or go to www.vicefund.com. Read it carefully before investing.

Mutual fund investing involves risk; principal loss is possible. The Vice 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 invests in smaller companies, which involve additional risks, such as limited liquidity and greater volatility.

The S&P 500 Index is a capitalization-weighted index of 500 stocks. The Index is designed to represent the broad domestic economy through changes in aggregate market value of 500 stocks representing all major industries. You cannot invest directly in an index.

Cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.  Basis point is a unit that is equal to 1/100th of 1% and is used to denote the change in a financial instrument.

The Vice Fund is distributed by Quasar Distributors, LLC.

© 2010 USAMutuals - Dallas, Texas

SOURCE Vice Fund