Monday, April 14, 2008
Integrity Picks a Subadvisor for its Income Fund
News summary by MFWire's editors
Integrity Mutual Funds
has hired JPMorgan Investment Management
to subadvise the Integrity High Income Fund
Officials at Minot, North Dakota-based Integrity said JPMorgan was chosen due to factors such as performance and track record.
Company Press Release
MINOT, N.D.--(BUSINESS WIRE)--Integrity Mutual Funds, Inc. (IMFD.OB), a mutual fund and financial services company, announced today that J.P. Morgan Investment Management, Inc., an affiliate investment adviser of J.P. Morgan Asset Management (JPMAM) has been named sub-advisor for the Integrity High Income Fund (IHFAX, IHFCX).
The Fundís Board of Trustees selected a team of professionals at JPMAM after considering several factors including performance, the market environment, and J.P. Morganís capabilities and excellent track record.
The Integrity High Income Fund will be managed by Robert Cook, CFA, managing director and head of the Fixed Income High Yield Team and lead portfolio manager for JPMAMís high yield total return, sub-advised mutual fund assets and absolute return credit products and Thomas Hauser, CFA, vice president, who co-manages JPMAMís high yield total return, sub-advised mutual fund assets and absolute return credit products.
J.P. Morgan Asset Managementís New York High Yield strategy utilizes a fundamental, bottom-up research process with a disciplined security selection process which seeks to consistently generate superior risk-adjusted returns. Proprietary fundamental research, a disciplined approach to relative value, and risk management drive the investment process which results in a well-diversified, optimally constructed portfolio.
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 throughout the United States. More information is available at http://corp.integrityfunds.com or by calling (800) 276-1262.
Armie Margaret Lee
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