GETTING
STARTED WITH A USA MUTUALS ACCOUNT
|
| What
is the minimum investment amount? |
| The
minimum investment to open an account with
the Vice Fund is $4,000. |
| Is
there a sales load or commission to pay? |
|
No. All of USA MUTUALS funds are no-load funds,
which means that you will never pay any commissions
or sales loads. While the fund is no-load,
management and distribution fees and other
expenses still apply. Please refer to the
prospectus for details. |
| Can
I automatically invest from my checking or
savings account? |
| Yes.
If you wish to purchase shares on a monthly
basis you can set up an automatic investment
plan (AIP) that transfers funds from your
checking or savings account directly into
your mutual fund account. The minimum transfer
amount for an AIP is $100 per month. To sign
up for this feature simply fill out section
5 on the Regular Application or section 6
on the IRA Application. To add this feature
to an existing account, simply call customer
service at 866-264-8783 and request to setup
your account with an automatic investment
plan. (Automatic Investment Plans do not assure
a profit and do not protect against a loss
in a declining market.) |
| If
I invest automatically every month can I cancel
at any time? |
| Yes.
Participation in an automatic investment plan
is optional and can be cancelled at any time
without charge. (Automatic Investment Plans
do not assure a profit and do not protect
against a loss in a declining market.) |
| How
do I set up an Individual Retirement Account
(IRA)? |
| Yes.
Simply contact your 401(k) plan administrator
by calling the customer service number on
your 401(k) statement, and inform them that
you would like to rollover your account to
an IRA. They should advise you of their requirements
including necessary paperwork to be completed
and returned to them. To set up your USA MUTUALS
IRA, simply fill out an IRA Application and
IRA Transfer Form (if needed) and mail both
of them in to the address at the top of the
application. In most cases, the check from
your 401(k) will be sent to you and you should
immediately forward it to USA MUTUALS. In
some cases though, the plan administrator
will be able to forward the check directly
to USAMUTUALS. |
| I
have a 401(k) plan that is still held through
my previous employer. Can I roll it into an
Individual Retirement Account (IRA) with USA
MUTUALS? |
| Setting
up an IRA is easy and simple. Simply download
an IRA Application and print it out. Fill
it out completely and send it along with a
check to the address on top of the application.
|
| I
currently have an IRA with another firm. Can
I transfer it into a new IRA to purchase funds
from USA MUTUALS? |
| Yes.
Simply complete the IRA Application and IRA
Transfer Form and mail both along with a recent
account statement to the address on the application.
The transfer process usually takes a minimum
of 2 weeks and you will receive a confirmation
notice upon account activation. |
|
If I open a joint account with someone other
than my spouse, who bears the tax liability?
|
| If
two or more people open a joint account, a
primary account holder with one social security
number must be designated. This person would
incur all the tax liability related to that
account. |
THE BASICS
|
|
What is an Individual Retirement Account (IRA)
and how do I set one up? |
| An
IRA is simply a type of account that allows
investors with earned income to contribute
$4,000 in 2005 ($4,500 for investors age 50
or over) and receive tax-deferred growth until
retirement. Contributions may be invested
in many types of securities including mutual
funds and may be tax deductible depending
upon the type of IRA. An IRA may be set up
with USA MUTUALS by simply completing the
IRA Application and sending it along with
your check to the address on the top of the
application. |
| What
is a 401(k)? |
| A
401(k) plan is simply an employer-sponsored
retirement plan that many companies extend
to their employees, some with employer matching
funds. It allows a certain percentage of an
employee’s pretax income to be invested
and grow tax deferred until withdrawal during
your retirement years. |
| What
does Rollover mean? |
| Rollover
is simply the process of transferring the
assets of one retirement plan to another without
suffering a penalty or tax consequences. For
example, you can roll a 401(k) plan from a
previous employer into a self-directed Rollover
IRA. |
| Why
are your funds only available at select locations?
|
| Broker-dealer
selling agreements are arranged firm-by-firm
and although we are willing to complete agreements
with almost any reputable firm, some brokerage
companies for different reasons, do not sell
our funds. Some firms have excessive fees
that we are not willing to pay and many full
service/commission firms simply will not add
new no-load, no-commission funds to their
platforms. While the fund is no-load, management
and distribution fees and other expenses still
apply. Please refer to the prospectus for
details. |
| Can
I have an IRA at more than one firm? |
| Yes.
You can have as many IRA accounts as you desire,
although you can only contribute $4,000 ($5,000
for age 50 and over) among all of them for
2006. In order to help simplify your accounts,
and to keep IRA custodial fees to a minimum,
we recommend consolidating. |
| What
is the degree of risk associated with the
funds? |
| Each
of our funds have different levels of risk
to accommodate different types of investors.
(Remember risk and potental return are directly
related: more risk = higher potential return,
less-risk = lower potential return) You should
choose a fund based on your financial objectives
and your risk tolerance. |
|
What about taxes? How do they work in regards
to a mutual fund? |
| If
you own a mutual fund that is NOT protected
by an IRA or other tax-deferred shelter, then
dividends and capital gains will be taxable
to you. Dividends and capital gains whether
paid out in cash or reinvested in additional
mutual fund shares are still taxable to the
investor for income tax purposes. Every year
you will be provided with a tax information
statement detailing the amount of dividends
and capital gains that are taxable for the
current tax year. Please contact a tax advisor
fro information regarding your personal situation. |
| Do
all newspapers list mutual fund prices - known
as net asset value (NAV)? |
| Many
newspapers list a large variety of mutual
funds, however not all newspapers list all
funds. Typically, larger newspapers will list
most funds, while smaller papers usually have
a limited selection. Most newspapers will
add mutual fund listings upon request. |
| What's
the difference between buying direct vs. buying
through an authorized broker dealer? |
| Buying
direct simply means that you are buying a
specific fund directly through the fund advisor
or company. Buying through a broker dealer
allows you to purchase any mutual fund that
the broker-dealer has available on their agreement
list. Please keep in mind that your broker-dealer
may charge additional fees for their services. |
MANAGING YOUR ACCOUNT
|
| How
often are account statements sent out to clients?
|
| Statements
are sent out to clients on a quarterly basis,
however, if there is any account activity
within a given month, a monthly statement
will be sent reflecting that activity. |
BUYING & SELLING FUND SHARES
|
| When
do I receive confirmation statements? |
| Anytime
you purchase or redeem fund shares you will
receive a confirmation statement indicating
the activity that has taken place in the account.
|
| Can
I easily switch between USA MUTUALS funds
if I want to? |
| Yes.
USA MUTUALS fund exchanges can be done anytime
at no cost. Simply call and specify which
of our other mutual funds you would like to
switch into. |
SECURITY
|
| Does
USA MUTUALS sell or distribute client information
to third parties? |
| We
do not disclsoe any non-public personal information
about our fund shareholders without their
authorization except as required by lawor
when necessary to comply with written requests
from regulatory agencies. |
