When the Value Trends Funds began selling its new mutual fund the first week of January, fund officials claimed it was the first no-load mutual fund to invest in the golf industry.

That is true, but it is not the first golf mutual fund ever. A Vero Beach, Fla. registered investment adviser opened a similar fund called The Golf Fund on the same day. That fund is being sub-advised by Wallington Asset Management of Indianapolis, Ind. and sold through brokers.

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