Viking Small-Cap Value Fund plans to liquidate due to low asset level

By Toni Weeks

San Diego, Dec. 19 - The board of trustees of Viking Mutual Funds approved on Dec. 16 the closing of the Viking Small-Cap Value Fund, according to a 497 filing with the Securities and Exchange Commission.

The board said the fund will be closed and all outstanding shares redeemed on Feb. 21 due to the fund's low asset level, unprofitability and marketing challenges.

Effective immediately, the fund will no longer pursue its stated investment objectives and will begin liquidating its portfolio. It may invest in cash equivalents such as money market funds until all shares have been redeemed. Shares are no longer available for purchase.

Shareholders may redeem or exchange their shares without a contingent deferred sales charge; exchanges into a different fund will be subject to any initial sales charge and/or contingent deferred sales charge specified in that fund's prospectus.

Any shareholders who have not redeemed or exchanged their shares by Feb. 21 will have their shares automatically redeemed, with proceeds sent to the address of record.

The fund's investment adviser is Red Bank, N.J.-based Fox Asset Management LLC.

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