Two growth funds that are anything but run of the mill are now available through Schwab’s One Source no-load, no-transaction-fee mutual fund platform: the Vice Fund (VICEX) and the Generation Wave Growth Fund (GWGFX). Both funds are advised by Mutuals Advisors of Dallas. The Vice Fund takes what the advisor calls a “defensive growth strategy” that focuses on investments in alcohol, tobacco, gaming and defense sector stocks. The Generation Wave Fund is a fund-of-funds capital appreciation vehicle designed to take advantage of the spending habits of the baby boom generation. The Vice Fund has $86 million in assets and has three-year trailing returns of 18.77%, according to Morningstar, which awarded it a five-star overall rating in January. The three-star Generation Wave fund has $51 million in assets and has five-year trailing returns of 8.62%.
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