Vice Fund is offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of Vice Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Mutual fund investing involves risk; principal loss is possible.The Fund is nondiversifed, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility.

While the fund is no-load, management fees and other expenses still apply. Please refer to the prospectus for further details.

The USA Mutuals Vice Fund is distributed by Quasar Distributors, LLC. © 2009 VICE FUND • Dallas, Texas