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

Individual Investors | Financial Advisors

Performance Update

IMS Family of Funds
CURRENT NAV
As of 3-9-2010

Fund Name	IMS Capital Value Fund (IMSCX)	IMS Dividend Growth Fund (IMSAX)	IMS Strategic Income Fund (IMSIX)
Current NAV	14.40	8.75	6.87
Change From Previous	0.05	0.01	0.01

IMS Family of Funds
YEAR TO DATE PERFORMANCE
As of 3-9-2010

Fund Name	IMS Capital Value Fund (IMSCX)	IMS Dividend Growth Fund (IMSAX)	IMS Strategic Income Fund (IMSIX)
Year to Date	6.12%	1.98%	5.66%

IMS Family of Funds
CURRENT MONTH-END PERFORMANCE
As of 1-31-2010

Fund Name	IMS Capital Value Fund (IMSCX)	IMS Dividend Growth Fund (IMSAX)	IMS Strategic Income Fund (IMSIX)
30-Day SEC Yield	N/A	N/A	5.32%
12 Month Yield	N/A	N/A	8.87%
Average Annual Total Returns
1-Year	30.77%	24.62%	37.19%
3-Year	-8.74%	-8.95%	-7.02%
5-Year	0.01%	-2.28%	-0.53%
10-Year	5.96%	N/A	N/A
Inception	7.78% (8/05/1996)	1.73% (11/05/2002)	3.09% (11/05/2002)
Expense Ratio*	1.75%	2.50%	1.94%

IMS Family of Funds
QUARTER-END PERFORMANCE
As of 12-31-2009

Fund Name	IMS Capital Value Fund (IMSCX)	IMS Dividend Growth Fund (IMSAX)	IMS Strategic Income Fund (IMSIX)
Quarter	4.77%	6.04%	7.91%
Average Annual Total Returns
1-Year	21.07%	21.28%	32.45%
3-Year	-6.80%	-7.26%	-7.12%
5-Year	0.05%	-2.83%	-1.07%
10-Year	5.91%	N/A	N/A
Since Inception	8.02% (8/5/1996)	2.27% (11/05/2002)	2.91% (11/05/2002)
Expense Ratio*	1.81%	2.58%	1.94%

*As of 9/1/09. 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. Foreside Distribution Services, L.P., Distributor.

	The Funds are also available at Fidelity, Schwab OneSource (IMS Capital Value Fund and IMS Strategic Income Funds), TD, Ameritrade and many other mutual fund platforms.
	The IMS Funds are available for Roth IRA's and Roth IRA Conversions. Please contact our transfer agent for more information at (800) 934-5550.

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.