Associated Press, Published December 20 2010
Fund invests in western North Dakota energy patchMINOT, N.D. – A Minot-based company is giving investors an opportunity to share the wealth from the booming energy development in western North Dakota.
Integrity Viking Funds investment portfolio manager Robert Walstad says investment in the Williston Basin Mid-North America fund has grown from $2 million to $42 million.
The stock fund invests in nearly 50 companies operating in the oil and gas fields. Walstad tells The Bismarck Tribune the return on investment this year to date is 42 percent.
Integrity Viking acquired the fund from a Tennessee company, moved its management in-house and gradually converted its holdings to all Williston basin-related investments, completing the transition in May.
Copyright © 2010 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of The Associated Press.