Morningstar Rates the Internet Fund 5-Stars
Tuesday, December 21, 1999 10:30
NEW YORK, Dec. 7 /PRNewswire/ -- Kinetics Asset Management is proud to announce that Morningstar has rated The Internet Fund's (Nasdaq: WWWFX, news, msgs) three-year performance, since inception (10/21/96), 5-stars overall as of November 30, 1999*.
A 100% no-load mutual fund, The Internet Fund is managed by Peter Doyle, Chairman and Chief Investment Strategist at Kinetics and Steven Tuen, portfolio manager. Smart Money Magazine listed Mr. Doyle as the "Twentieth Most Influential Person in the Investment Industry - 1999**."
The Fund, currently with assets of $825 million, seeks to invest in securities that represent a "pure play" on the Internet. "We define 'pure play' as any company whose success or underlying business model is primarily dependent on the future growth of the Internet as a consumer, business and e-Commerce medium," stated Steven R. Samson, President and Chief Executive Officer, Kinetics Asset Management.
Using proprietary and industry research, Kinetics seeks out "next generation" Internet companies whose products and services are aimed at large but as yet untapped markets. "We are focusing on five major investment themes and believe the current market provides many opportunities to pursue our strategy," stated Mr. Doyle. The five themes are early live cycle -- incubators of innovation, undiscovered -- overlooked Internet potential, proprietary infrastructure -- owning channel access, proprietary content -- competition resistant and international -- new markets.
The Internet Fund, Total Return As of l2/3/99
Year to date: 153.94% 12 months: 227.86% 3 years: 98.83%
(not annualized) (annualized) (annualized)
If you are interested in speaking with either Mr. Doyle or Mr. Samson regarding the Fund, please contact Richard Virgilio at the telephone number or e-mail below.
Performance data cited above represents past performance. Investment returns and principal value of an investment will fluctuate and shares, when redeemed, may be worth more or less than their original cost.
* Morningstar proprietary ratings reflect historical risk adjusted
performance as of 11/30/99. These ratings may change monthly and are
calculated from the Fund's 3-year average annual returns in excess of
90-day Treasury-bill returns with appropriate adjustments and a risk
factor that reflects fund performance below 90-day Treasury-bill
returns. The Fund received 5-stars from the 3-year period. The top
10% of funds in a broad asset class receive 5-stars.
** Smart Money Magazine, September 1999.
The Internet Fund (http://www.theinternetfund.com) invests in a single industry. Its shares do not represent a complete investment program and the value of its shares may fluctuate more than shares invested in a broader range of industries. Performance shown occurred during a period of generally favorable market conditions. Past performance is no guarantee of future results.
For a prospectus containing more information, including fees and expenses, call 888-FUND-WWW or log on to theinternetfund.com. Read the prospectus carefully before investing. Distributor: T.O. Richardson Securities, Inc., is a member of NASD and is not an affiliate of the Fund or its adviser.
Contact: Richard Virgilio of BergerBrown Communications, 973-761-4331, r.virgilio@bergerbrown.com, for Kinetics Asset Management, Inc.
SOURCE Kinetics Asset Management, Inc.
CONTACT: Richard Virgilio of BergerBrown Communications, 973-761-4331, r.virgilio@bergerbrown.com, for Kinetics Asset Management, Inc.
Quote for referenced ticker symbols: WWWFX |
