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MINOT, N.D., Feb. 7, 2011 (GLOBE NEWSWIRE) -- Integrity Viking Funds, a mutual fund and financial services company announced today that its Williston Basin/Mid-North America Stock Fund (ICPAX) has earned an Overall 5-star rating by Morningstar
TM as of January 31, 2011.
"I am excited that this unique fund and its special focus is doing well. The Fund is an unusual opportunity for investors who may have overlooked this tremendously resource-rich area," said Robert Walstad, Senior Portfolio Manager of Integrity Viking's Williston Basin/Mid-North America Stock Fund. "Newer technologies have allowed companies to 'unlock' more of the resources from the Basin and we are delighted to take advantage of this opportunity."
The Fund invests in companies that are participating in or benefitting from the development of the resources in the Williston Basin and/or Mid-North America Region.
The Williston Basin is one of the largest sedimentary basins in North America at nearly 300,000 square miles. Currently the ND Industrial Commission estimates 6.5 billion barrels of recoverable oil from the Bakken and Three Forks formations, of which only approximately 250 million barrels have been recovered to date. North Dakota is the 4th largest onshore oil producing state in the nation.
About the Morningstar Rating TM:For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating TM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. The Williston Basin/Mid-North America Stock Fund was rated 5-stars Overall, and for the 3-year and 5-year periods; it was rated 4-stars for the 10-year period. Number of funds in its category, Mid-Cap Growth, for the respective periods are 678, 678, 597, and 393. (c) 2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. More information is available at www.integrityvikingfunds.com or by calling (800) 276-1262.The Fund is sold by prospectus only. For more complete information an investor should consider the investment objectives, risks, and charges and expenses of the investment company carefully before investing. The prospectus contains this and other information about the investment company. You may obtain a prospectus at no cost from your financial adviser or at www.integrityvikingfunds.com . Please read the prospectus carefully before investing. Distributed by Integrity Funds Distributor, LLC.The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.Because the Fund normally invests in common stocks of companies engaged in natural resources-related activities in a limited geographical sector, the Fund's performance largely depends on the overall economic condition of that industry and geographical sector. Additionally, diplomatic, political or economic developments in foreign countries could adversely impact the Fund's investment in securities of foreign companies.