The Kansas Investment Advisory Agreement is a legally-binding agreement between Equity Strategies Fund, Inc. (ESF) and EPSF Advisors, Inc. (EPSF). This agreement outlines the terms and conditions of the professional relationship between ESF and EPSF, specifically regarding investment advisory services in the state of Kansas. Under this agreement, ESF appoints EPSF as its investment advisor, entrusting EPSF with the responsibility of managing ESF's investment portfolio and providing investment advice. EPSF, as the investment advisor, has a fiduciary duty to act in the best interests of ESF and its shareholders, ensuring prudent and knowledgeable investment decisions. The main purpose of this agreement is to establish the scope of services to be provided by EPSF to ESF. This includes creating and implementing investment strategies, conducting research and analysis on potential investments, monitoring asset allocation, conducting risk assessments, and providing regular reports on the performance of ESF's portfolio. The Kansas Investment Advisory Agreement also addresses the compensation and fees associated with EPSF's services. Typically, EPSF charges a management fee based on a specified percentage of the assets under management. This fee structure is designed to align EPSF's interests with the success of ESF's investments. It is important to note that different types or variations of the Kansas Investment Advisory Agreement of Equity Strategies Fund, Inc. and EPSF Advisors, Inc. may exist, depending on the specific needs and objectives of ESF. For example, ESF may have different investment strategies or requirements for different funds or investment vehicles it manages. In such cases, separate advisory agreements may be created to tailor the services provided by EPSF to each specific entity. In conclusion, the Kansas Investment Advisory Agreement of Equity Strategies Fund, Inc. and EPSF Advisors, Inc. is a comprehensive contract that outlines the professional relationship between ESF and EPSF, detailing the scope of services, compensation, and responsibilities involved in managing ESF's investment portfolio in the state of Kansas.