Can anyone elaborate on this article for me?

I came across this article that allows small funds to start an ira for young people. I don't understand the part that says minimal initial/ IRA. Is the IRA part the minimal if you have an IRA, or is it the minimal per year? Thanks!

HOW THEY'VE FARED IN 5 YEARS

More information about the funds discussed in this column:

Fund, ticker Minimum initial/IRA 5 years total return1

Excelsior Mid-Cal Value (UMVEX) $500/$250 65%

Homestead Value (HOVLX) $500/$200 64%

Hennessy Cornerstone Growth (HFCGX) $2,500/$250 86%

USAA Capital Growth, (USCGX) $3,000/250 88%

T. Rowe Price Equity Index (PREIX) $2,500/$1,000 33%

T. Rowe Price Equity Income (PRFDX) $2,500/$1,000 51%

1 - Dividends, gains reinvested through Wednesday; Sources: Lipper, Morningstar

Link:
http://www.usatoday.com/money/perfi/colu...

Thanks again

The first dollar amount listed is what is required to open a regular investment account with the mutual fund ($500 for Excelsior Mid Cap Value). The second dollar amount is the minimum dollar amount required to open an IRA for the same mutual fund ($250).

Because most people will make monthly or annual deposits to an IRA account, the investment company is willing to accept lower initial deposits to open the account.

If you go to TR PRice you can open an account w $50 if you make monthly contributions of min $50. Otherwise the min For an IRA is $1000

My guess would be that the minimal is the minimum allowed investement from a regular account, while IRA is the minimum if its comming from an IRA account.