Spirit of America Launches Energy Fund
Spirit of America Investment Fund, an open-end management investment company, today announced the launch of the Spirit of America Energy Fund (SOAEX). The energy fund is the newest offering within the Spirit of America family of mutual funds and enables investors to take advantage of opportunities available in the growing energy industry. Spirit of America mutual funds are available exclusively at David Lerner Associates, a privately-held securities broker dealer headquartered in Syosset, New York.
“The introduction of the new Spirit of America Energy Fund comes at a great time as the oil and gas industry continues to grow domestically, resulting in an increased need for infrastructure development,” said Raymond A. Mathis, portfolio manager of the Spirit of America Energy Fund.
The United States Energy Information Administration estimates that by 2040, the United States will produce 96% of the energy it uses domestically, and it also predicts that the United States has the potential to become a leading international exporter of natural gas by the same year.
The Spirit of America Energy Fund (SOAEX) will invest 80% of its assets in several aspects of the oil and gas industry. It also offers the flexibility to take advantage of opportunities based on changing economic conditions and equity growth as the fund is structured to give the latitude to invest in several different products, ranging from exploration and research to production and infrastructure development as equity in different portions of the industry fluctuates.
"This new offering of the Spirit of America Energy Fund is a great opportunity for the average investor to sensibly become involved in the energy sector of the market,” said William Mason, managing director of Spirit of America. “The new fund continues our tradition of offering clients the ability to diversify their investments, and our exclusive relationship with David Lerner Associates provides investors with professional consultation to learn about the exciting opportunities available within the oil and gas industry.”
About Spirit of America:
Spirit of America Investment Fund, a Maryland corporation organized on May 15, 1997, is an open-end management investment company. The company is now comprised of the Spirit of America Real Estate Income and Growth Fund, the Spirit of America Large Cap Value Fund, the Spirit of America High Yield Tax-Free Bond Fund, the Spirit of America Income Fund, the Spirit of America Income and Opportunity Fund and the Spirit of America Energy Fund.