The BearGuard Fund, the flagship mutual fund of Skye Investment Advisors of Los Gatos, Calif., is asking shareholders to approve liquidation of the fund at a meeting March 21.

The fund is one of about a dozen mutual funds which invest according to a "bearish" investment philosophy which entails "shorting" securities that the manager believes will decline in price. The proposed liquidation was disclosed in a March 1 proxy statement filed by the fund.

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