Pyxis Natural Resources Fund includes nontraditional resource sectors

By Toni Weeks

San Diego, March 27 - Pyxis Capital, LP has launched the Pyxis Natural Resources Fund, according to a press release.

Through its master fund, the Ascendant Natural Resources Master Fund, the fund invests in equities of natural resources companies and will seek to outperform the S&P North American Natural Resource Sector index. Unlike other natural resource funds, the Pyxis Natural Resources Fund will invest in sectors such as timber and agribusiness, which are not included in the traditional natural resource indexes.

"Inflation has been prevalent in our economy since the creation of the Federal Reserve, abandonment of the gold standard, and the ongoing quantitative easing that began in late 2008," portfolio manager Todd Smurl said in the release. "Our current outlook calls for more of the same, and we view natural resources equities as an attractive hedge in this environment."

Smurl and Joe Dougherty make up the portfolio management team for the fund.

As previously reported, 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 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 Advisors, LLC, the adviser to 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 is the investment adviser.

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