VICAX – USA Mutuals Vice A Investment Strategy | Morningstar

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Strategy

The investment seeks long-term growth of capital. Under normal market conditions, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of companies that derive a significant portion of their revenues from a group of vice industries that includes the alcoholic beverages, defense/aerospace, gaming and tobacco industries. It concentrates at least 25% of its net assets in this group of four vice industries (but no more than 80% of its net assets in any single industry).

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
VICEX	USA Mutuals Vice Fund Investor Class Shares	No Load	Open			Aug 30, 2002	$39.52M	2.030%	High	$2,000	−$5.78M
VICVX	USA Mutuals Vice Fund Institutional Class	Institutional	Open			Apr 1, 2014	$2.25M	1.780%	High	$2,000	−$277,556.91
VICAX	USA Mutuals Vice Fund Class A Shares	Front Load	Open			Dec 8, 2011	$5.58M	2.030%	High	$2,000	−$532,006.01

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