The Vice Fund and the Generation Wave Growth Fund both have a new sub-advisor, according to officials at fund's investment advisor Mutual Advisors.

GNI Capital Inc. won the mandate to become the new sub-advisor to both funds, and has received the blessing of the funds' shareholders and trustees.

Mutual Advisors president Michael Henry cited GNI's "quality investment management" as the reason for the selection.

The Generation Wave Growth Fund tries to anticipate the impact of the Baby Boomers with its investments, while the Vice Fund holds stock in booze, casinos, guns, and nicotine.

GNI principal Charles Norton will continue to serve as the funds' portfolio manager, alongside new portfolio manager Allen Gillespie, another GNI principal. 

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