(BUSINESS WIRE)–Geary Advisors, LLC, announced today that it is in the process of reducing the fund fees for its two state-based exchange-traded funds OOK and TXF. The advisor has agreed to reduce investment advisory management fees and to reimburse other expenses to the extent the total annual fund operating expenses, as a percentage of average daily net assets, exceed .20 percent. A reduction or reimbursement lowers the expense ratio.
“I believe these funds are an excellent way to invest in Oklahoma and Texas companies, many related to the energy sector,” said Keith Geary, chairman of Geary Advisors. “We are in the process of lowering the management fees in pursuit of competitive excellence. We feel we have a great product and want these funds to be competitive with similar funds.”
OOK and TXF are based on the SPADE Index, a modified market capitalization weighted index that seeks to measure the performance of publicly traded companies that are headquartered in or have significant operations in Oklahoma and Texas.
At least 10 percent of the OOK and TXF management fees will go to support Aaron’s Bridge, an Oklahoma nonprofit organization working to establish and provide more treatment options in Oklahoma and Texas for children with developmental disabilities, including Autism Spectrum Disorder.
Investors should consider the investment objectives, risks, charges and expenses of OOK, Inc. and TXF Funds Inc. carefully before investing. This and other important information about OOK, Inc. and TXF Funds Inc. can be found in their prospectuses. To obtain a copy of these prospectuses, please call (405) 235-5757 or visit OOK, Inc.’s Web site at www.OOKetf.com or TXF Fund Inc’s Web site at www.TXFetf.com. Please read the prospectuses carefully before investing.
OOK ETF and TXF ETF are new products with limited operating history. OOK ETF and TXF ETF are distributed by ALPS Distributors, Inc. ALPS Distributors, Inc. and Geary Advisors, Inc. are unaffiliated entities.
Because OOK ETF and TXF ETF will invest substantially all of their assets in the securities of companies that have their headquarters or principal place of business located in Oklahoma and Texas, or that generate a significant portion of their revenues in Oklahoma and Texas, OOK ETF and TXF ETF will be subject to greater volatility as a result of the events and conditions affecting Oklahoma and Texas, to a greater extent than an ETF that did not focus its investments in this manner. An investment in the OOK ETF or TXF ETF involves risks, including loss of principle. Holdings are subject to change.
Past performance does not guarantee future results. Index performance does not reflect fund performance and investors cannot invest directly in an index.
Companies in the energy business may be adversely affected by changes in worldwide energy prices, exploration, production spending, government regulation, changes in exchange rates and depletion of natural resources.