Integrity High Income Fund Ranked in Top 1% of Category by Morningstar(R) for 2005
02 Februar 2006 - 4:37PM
PR Newswire (US)
MINOT, N.D., Feb. 2 /PRNewswire-FirstCall/ -- Integrity Mutual
Funds, Inc. (OTC:IMFD) (BULLETIN BOARD: IMFD) , a mutual fund and
financial services company, announced today that its Integrity High
Income Fund achieved strong 2005 performance, beating peer group
averages and landing it in the top percentile in Morningstar's High
Yield Bond category. The High Income Fund finished in the top 1%
(among 522 funds) of high yield bond funds for the 12 months ending
December 31, 2005, according to Morningstar; the Fund posted a
total return of 7.48% for the same period. Since its inception on
April 30, 2004, the Fund has delivered an average annualized return
of 10.45% through December 31, 2005. The High Income Fund is
managed by a team led by Jeffrey Cummer and Dwayne Moyers,
institutional managers responsible for over $1 billion in bond
portfolios. They credit the Fund's strong performance to their
innovative approach to bond selection for which each investment
must answer the question, "Are there real assets to cover our costs
in the bonds?". They then employ a best relative value technique
where they eliminate bonds not having enough yield over treasuries
to justify the credit risk. This diligence creates the opportunity
to deliver a higher yield and stable and appreciating NAV. "Our
approach to bond selection clearly prevailed in 2005. We added a
significant amount of alpha by keeping our default rate low," said
Mr. Cummer. "As we look out to 2006, we believe it will again be a
'bond picker's market'. High Yield, as a sector, will not be
robust, but there will be good trading opportunities and a current
yield higher than last year." About Integrity Mutual Funds
Integrity is differentiating itself as a leading investment
management company by selecting strong, institutional sub-advisers
to manage unique mutual funds that play strategic roles in
advisers' portfolios. Recent hires of managers who apply
disciplined investment methodologies and deliver consistent
risk-adjusted performance are allowing Integrity to build a
selection of quality funds with the capability to perform in all
market cycles and offer consistent streams of income with the
potential for capital appreciation. Integrity Mutual Funds, Inc. 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 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. More information is available at
http://www.integrityfunds.com/ or by calling 800/276-1262. Please
consider carefully the fund's investment objectives, risks, charges
and expenses. For this and other important information, obtain a
fund prospectus by visiting http://www.integrityfunds.com/ or by
calling 1-800-276-1262. Read it carefully before investing.
Distributed by Integrity Funds Distributor, Inc. Performance data
does not reflect the deduction of the maximum 4.25% sales load. If
reflected, the load would reduce the performance quoted.
Performance data quoted above is historical. Past performance is no
guarantee of future results. Current performance may be higher or
lower than the performance data quoted. The principal value and
investment return of an investment will fluctuate so that your
shares, when redeemed, may be worth more or less than their
original cost. You may obtain performance data current to the most
recent month end by calling 1-800-276-1262. All returns assume
reinvestment of dividends and capital gains prior to the close of
the fiscal year. The Overall Morningstar Rating is based on
risk-adjusted returns, derived from a weighted average of the
three-, five-, and ten-year (if applicable) Morningstar metrics.
The Fund opened on April 30, 2004 and does not yet have 3-, 5-, and
10-year performance ratings. Bond Funds generally decline in value
as interest rates rise. High yield securities are lower quality
debt securities and are subject to greater risk of default or price
changes due to changes in the credit quality of the issuer. First
Call Analyst: FCMN Contact: DATASOURCE: Integrity Mutual Funds,
Inc. CONTACT: Robert Walstad or Mark R. Anderson, , both of
Integrity Mutual Funds, Inc., +1-701-852-5292 Web site:
http://www.integrityfunds.com/
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