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The Barrier Fund (MUTF: VICEX), formerly the Vice Fund, is a mutual fund investing in companies that have significant involvement in, or derive a substantial portion of their revenues from the tobacco, gambling, defense/weapons, and alcohol industries. A primary focus of stock selection is the ability of a company to pay and grow dividends. The fund has received a great deal of media coverage〔(God vs. Satan Who's the better investor? ) in ''Slate'' (2005-07-29) "By contrast, the much-smaller Vice Fund actively embraces companies that profit from human fallibility. And it has profited handsomely from doing so, crowing that it ranks in the top 1 percent of funds in its category. Here's a chart of the Vice Fund against the S&P 500 since its inception in 2002."〕〔(Does Vice Pay? ) at The Independent Institute (2003-04-04) "“Vices are not crimes,” wrote 19th-century anarcho-capitalist philosopher Lysander Spooner. We still can legally invest in vice industries that have not been completely criminalized by the state. The Vice Fund (www.vicefund.com), created seven months ago, invests in alcohol, tobacco, gambling, and national defence. The presence of defence in the list of sins reminds us that what is a vice for some is a virtue for others."〕〔(Vice beats virtue in the battle for high returns ) in Financial Times (2006-12-18) "The Vice Fund (VICEX) is really an alternative sector strategy that focuses on the alcohol, tobacco, gaming and defense industries, and we do so because we believe they offer true investment merit."〕 even in non-English magazines.〔(Focus Money Online )〕〔Syndens seier, Ole Asbjørn Ness, Jacob Trumphy, Finansavisen 10 September 2011, p.34–37〕〔Shank, Todd M., Daryl K. Manullang, and Ronald Paul Hill. “Is it Better to be Naughty or Nice?” ''The Journal of Investing''. Fall 2005: 82 – 87〕 == History == The current fund manager is Gerry Sullivan (since 2011). The fund, originally named the Vice Fund, was organized in March 2001 by USA Mutuals, which at the time was known as Mutuals.com. The fund's inception date was August 30, 2002.〔http://www.bloomberg.com/quote/VICEX:US〕 On July 29, 2014, USA Mutuals renamed the Vice Fund to the Barrier Fund to indicate that the fund's core industries have high barriers to entry. The name is also intended to "raise assets and not raise eyebrows," according to Sullivan.〔(Smoking Isn’t Paying Off Today for Vice Mutual Fund )〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Barrier Fund」の詳細全文を読む スポンサード リンク
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