Oak Associates is introducing its Black Oak Emerging Tech Fund at the end of December. The new fund will be the fourth in its no-load lineup.

Company founder and chief investment officer James Oelschlager will co-manage the fund with Thomas Hipp. They plan on investing in small cap companies they perceive will develop or benefit from new technology or enhancements to new technology. The Red Oak Technology Select Fund concentrates investment in large- and some mid-cap companies.

Oak Associates, with $8 billion in three existing funds, as demonstrated by the opening of this fund, has held its ground as a growth-focused company. The company has no plans to enter other sectors or even venture abroad.

Funds are sold directly and distributed through Charles Schwab, Fidelity, and TD Waterhouse.

The company plans on sending out investment kits and prospectuses early in December, allowing investors to place advance orders for shares directly at $10 apiece. Investors using the other brokers may not be able to place advance orders. 

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