IMS Capital Management - No Load Mutual Funds, Retirement Plans, and Separate Accounts

Individual Investors | Financial Advisors

IMS Strategic Income Fund

Income-producing securities with low volatility, high current income, and modest gain potential.

Summary Information

Description	A portfolio of income-producing securities.
Objective	High current income, with modest gain potential.
SEC 30-Day Yield	8.17% as of 6/30/08
12-Month Yield	10.03% as of 6/30/08
Dividend Frequency	Monthly
Total Holdings	78
Assets	$82 million as of 6/30/08
Expense Ratio	1.61% as of August 31, 2007
Fund Inception	November 5, 2002
Manager	Carl W. Marker, 45; Don Shute, 53
Manager Tenure	Since Inception (Mr. Marker)
Experience	37 Years Combined
Ticker Symbol	IMSIX
Average Annual Total Returns For Periods Ending 06/30/2008
Quarter *	-0.28%
1-Year	-13.33%
3-Year	3.32%
5-Year	3.57%
Inception	6.24%

Fund inception, November 5, 2002. Returns are historical, include change in share price as well as the reinvestment of dividends and capital gains. Return and share price will fluctuate and redemption value may be more or less than original cost. Please read the prospectus for more complete information including management fee and expenses. The Fund is distributed by Foreside Distribution Services, L.P. * not annualized

Carl W. Marker, Co-Portfolio Manager

Quarterly Commentary

Diversification by Sector
March 31, 2008

INVEST
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Past performance does not guarantee future results. Current perfomance may be higher or lower than the performance quoted. 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.

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by clicking here. Read it carefully before investing. Figures include changes in principal value, reinvested dividend and capital gain distributions.

The IMS Funds are distributed by Foreside Distribution Services, L.P.