Pyxis launches Pyxis Natural Resources Fund with four share classes

By Toni Weeks

San Diego, March 20 - Pyxis Funds said it is now offering the Pyxis Natural Resources Fund, according to a 497 filing with the Securities and Exchange Commission.

The fund has launched with class A, class C, class R and class Y share classes. Their ticker symbols are HNRAX, HNRCX, HNRRX and HNRYX, respectively.

The fund seeks growth of capital and invests substantially all of its assets in a master fund, the Ascendant Natural Resources Master Fund. Under normal circumstances, the master fund invests at least 80% of its assets in the common stock of natural resource companies.

Joe Dougherty and Todd Smurl are the portfolio managers to the fund.

The fund bears the master funds' expenses in proportion to its investments in the master fund. Shareholder fees consist of 5.75% maximum sales charge for class A shares, a 1% maximum contingent deferred sales charge for class C shares and a 2% exchange or redemption fee for all share classes that will apply to amounts exchanged or redeemed within two months of purchase date.

Management fees will run 1.35%, which includes a 0.3% advisory fee, a 0.2% administration fee paid to Pyxis and a 0.85% management fee paid to Ascendant, the adviser o the master fund. Total annual fund operating expenses are expected to be 2.47% for class A, 3.12% for class C, 2.62% for class R and 2.12% for class Y.

Dallas-based Pyxis Capital, LP is the investment adviser.

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