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Levine is the founder and president of Copley Fund Inc. His career began in 1946 when he founded a ladies handbag-manufacturing company, which he sold in 1965. The tricky part in Levin’s life is that his mutual fund, the Copley Fund, is part of a handbag and shoe import and retail business. The business allows the fund to be taxed as a corporation. Because the fund is taxed as a corporation, it doesn't have to distribute dividends and investors avoid paying taxes until they sell shares in the fund.
Essentially, it adds about 3 percent to the investment that is not reflected in the fund's net asset value, according to Mr. Levine. Copley fund grew to $97 million and now Copley Fund is about 81.4 million dollars. In 1978 Copley fund is free for outside investors.
The Copley Fund portfolio is mostly utility company stock. The Copley Fund portfolio is mostly utility company stock. Its biggest single is 4.8 million dollars in drug-maker Bristol Myers Squibb Co. Mr. Levine avoids companies that are suddenly in vogue because it's not hard to be 90 percent right. The X factor is the perception of a company, and if the company suddenly has a bad loss. Mr. Levine and his wife own 7 million dollars of Copley Fund shares. Irving Levine's successful Copley Fund has earned him the distinction of best growth and income mutual fund investor in the country during the third quarter.
Copley seeks tax-advantaged accumulations of dividend income and long-term capital growth. The fund uses its corporate structure to create tax-advantaged dividend income by using the fund's 70 percent deduction from federal income taxes for dividends received. The remaining 30 percent of the fund's income is used primarily to offset the expenses of running the fund. Because of this policy and structure, the fund does not make annual taxable distributions. Instead, dividends and capital gains are accumulated within the fund and are reflected in the share price. It invests in companies with strong balance sheets and histories of dividend increases.
The company is fast growing into one of the best investment companies with their team of fund managers who work hard to meet the objectives the funds. They work diligently to ensure that the investments of the clientele are as secure as possible and provide maximum returns. 

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