Skye Investment Advisors of Los Gatos, Calif. is seeking shareholder approval to liquidate the Bearguard Fund, according to a preliminary proxy statement filed Jan. 31 with the Securities and Exchange Commission.

Skye Investment Advisors, the adviser to the fund, has been subsidizing the Bearguard Funds' expenses, capping them at 2.75 percent and 2.50 percent for investor and institutional share classes, respectively, according to the proxy. Operating expenses for the year ended Oct. 31, 2000 were actually 20.12 percent and 20.05 percent for investor and institutional share classes, respectively, according to the proxy.

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