The IPS New Frontier Fund invests in many of the same rapidly growing high tech companies, but without the counterbalance of high dividend companies. Because the fund is a non-diversified fund, we can invest in fewer companies, allowing us to focus more on what we believe to be our core holdings. These are the companies that we believe have the greatest growth potential. IPS Millennium Fund and IPS New Frontier Fund are no-load funds . This means there is no sales charge on either the front or back end you are buying the fund directly from the management company, without the middleman markup found in so many funds with a sales load.
All funds do, however, charge management fees.
The IPS Millennium Fund has historically experienced low capital gains and income distributions to investors. While tax-efficient investing is not an objective of the Fund, favorable tax consequences have been a beneficial byproduct of the Fund's management discipline of selling off its large losing positions near the end of each year, which has, in the past, offset most of the capital gains generated by sales during the year. Shareholders should not assume that past taxable distribution policies will be representative of future taxable distributions. You may do both. We are adding new programs regularly, so check our website or with your broker.