FORM N-18F-1
NOTIFICATION OF ELECTION
The undersigned registered open-end investment company hereby notifies the
Securities and Exchange Commission that it elects to commit itself to pay in
cash all redemptions by a shareholder of record as provided by Rule 18f-1 under
the Investment Company Act of 1940. It is understood that this election is
irrevocable while such Rule is in effect unless the Commission by order upon
application permits the withdrawal of this Notification of Election.
SIGNATURE
Pursuant to the requirements of Rule 18f-1 under the Investment Company Act
of 1940, the registrant has caused this notification of election to be duly
executed on its behalf in the city of Knoxville and state of Tennessee on the
31st day of January, 2000.
IPS FUNDS
By: /s/ Robert Loest
Name: Robert Loest
Title: CEO
Attest: /s/ Gregory D'Amico
Name: Gregory D'Amico
Title: President
