Integrity Launches Free Cash Flow Fund
27 Avril 2005 - 4:46PM
PR Newswire (US)
Integrity Launches Free Cash Flow Fund MINOT, N.D., April 27
/PRNewswire-FirstCall/ -- Integrity Mutual Funds, Inc. (OTC:IMFD)
(BULLETIN BOARD: IMFD) , the Minot-based mutual fund and financial
services company, has launched a new free cash flow fund: the
Integrity Growth & Income Fund. The Growth & Income Fund is
being launched in partnership with IPS Advisory, Inc. of Knoxville,
Tennessee who will manage the Fund on a sub-advisory basis. Last
November, Integrity signed an agreement with IPS to acquire
management rights to the IPS Millennium and New Frontier Funds. The
two funds, with combined assets of $56 million, were merged into
the new Growth & Income Fund on April 25. The new fund will
continue to utilize a disciplined strategy of selecting growing,
well-run companies that are undervalued, based on discounted free
cash flows. "This strategy allows shareholders to benefit wherever
value occurs in the market, from small- to large-cap stocks, and
from growth to value stocks," says IPS Advisory's Senior Portfolio
Manager, Robert Loest, who will continue to manage the new Growth
& Income Fund. "The launching of the Growth & Income Fund
signifies Integrity's continuing effort to expand the scope of our
distribution and to provide a broader, more diversified family of
funds to our shareholders," said Integrity's Chairman and CEO
Robert Walstad. "IPS is a respected adviser in the free cash flow
investment discipline, and we are excited to be able to offer this
new product to our shareholders," Walstad continued. Integrity
Mutual Funds, Inc. has assets under management of $400 million and
is publicly traded over the OTC Bulletin Board under the symbol
IMFD.OB. With its subsidiaries, Integrity Money Management, Inc.,
Integrity Fund Services, Inc., and Integrity Funds Distributor,
Inc., the firm sponsors, manages, and advises 18 mutual funds. IMFD
also owns Capital Financial Services, Inc., a full-service
brokerage firm that specializes in providing investment products
and services to independent investment representatives, financial
planners, and investment advisors in parts of the Midwest and
California. The Integrity Funds are sold only to persons residing
in the United States and are offered by prospectus only. For more
complete information about any of the Integrity Mutual Funds,
investors should consider the investment objectives, risks, charges
and expenses of each fund carefully before investing. The
prospectus includes this and other information about each fund.
Investors may obtain the applicable prospectus from their financial
adviser or from our website at http://www.integrityfunds.com/ .
Please read the prospectus carefully before you invest or send
money. DATASOURCE: Integrity Mutual Funds, Inc. CONTACT: Mark R.
Anderson, +1-701-852-5292, or Jerry Szilagyi, +1-631-424-8111, both
of Integrity Mutual Funds, Inc. Web site:
http://www.integrityfunds.com/
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