Press Release Source: Direxion Funds
Direxion Launches Eight New Leveraged ETFs
Monday November 3, 11:40 am ET
Innovative Funds Benchmarked to Help Advisors and Investors Seeking to Outperform Major Russell Indexes in Bull and Bear Markets
BOSTON, MA--(MARKET WIRE)--Nov 3, 2008 -- Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, today announced their entrance into the ETF space with the Direxion Shares 3x Exchange-Traded Funds, slated to begin trading Wednesday, November 5, 2008. The new ETFs are a group of leveraged Bull and Bear index funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses) of the four distinct Russell indexes they benchmark. There is no guarantee that the funds will achieve their objective.
The new Direxion Shares ETFs are designed to give investment advisors and sophisticated investors the ability to execute active trading strategies in all types of markets. The funds deliver increased market exposure via 3 to 1 leverage, long and short of their respective indices and afford investors the opportunity to effectively allocate capital to seek improved risk-adjusted returns. Direxion Shares ETFs represent the highest amount of leverage, currently available in the ETF space.
"These eight leveraged index Bull and Bear ETFs will give our investors the ability to achieve increased exposure to the diversified Russell 1000î, Russell 2000î, Russell 1000î Energy and Russell 1000î Financial Services Indexes -- critical investment tools for navigating changing markets," said Dan O'Neill, Direxion Shares' President. "We're thrilled to be the first to deliver portfolio solutions that track these dynamic Russell indexes using the power of leverage."
The new Direxion Bull and Bear 3x ETFs include:
Fund Name Symbol Benchmark Leverage
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Bull Funds
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Direxion Large Cap Bull 3x
Shares BGU Russell 1000î Index 300%
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Direxion Small Cap Bull 3x
Shares TNA Russell 2000î Index 300%
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Russell 1000î Energy
Direxion Energy Bull 3x Shares ERX Index 300%
------ ------------------------- --------
Direxion Financial Bull 3x Russell 1000î Financial
Shares FAS Services Index 300%
------ ------------------------- --------
Bear Funds
------ ------------------------- --------
Direxion Large Cap Bear 3x
Shares BGZ Russell 1000î Index -300%
------ ------------------------- --------
Direxion Small Cap Bear 3x
Shares TZA Russell 2000î Index -300%
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Russell 1000î Energy
Direxion Energy Bear 3x Shares ERY Index -300%
------ ------------------------- --------
Direxion Financial Bear 3x Russell 1000î Financial
Shares FAZ Services Index -300%
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By providing both Bull and Bear versions of each of the indexes, Direxion gives investors the ability to seek competitive returns in rising and falling markets across a wide spectrum of diversified assets. The ETF structure allows investors to benefit from the flexibility and low cost features of an exchange traded fund product, coupled with the leveraged investment solution experience that Direxion Funds is known for in the mutual fund industry.
"Our new leveraged Bull and Bear ETFs offer an unprecedented level of leverage in the ETF arena, something that today's dynamic investors are demanding," said Bill Franca, Direxion's Executive Vice President of Sales and Distribution. "Direxion Shares will give savvy investors the array of important investment options they have been seeking to actively capitalize on the volatility of today's markets."
To request more information on Direxion Shares 3x ETFs, or to speak to a member of the Direxion team, please contact Melinda Staab at (973) 400-1341 or
melinda@jcpublicrelations.com.
About Direxion
Direxion Shares and Direxion Funds, managed by Rafferty Asset Management, LLC, offer leveraged index funds, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $1.6 billion in assets under management. The company's business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners.
For more information, please visit
www.direxionfunds.com or
www.direxionshares.com.
