Direxion Shares Lists Leveraged ETFs on NYSE Euronext’s European Market
Posted on March 31, 2010 at 03:00 AM EDT
Funds Offer Long and Short Exposure to Emerging Markets, Large Cap U.S. Equities and U.S. Financial Services Industry
BOSTON, March 31 /PRNewswire/ -- Direxion, a pioneer in providing alternative and tactically-oriented investment strategies to sophisticated investors, is pleased to announce the listing of six Direxion Shares Daily ETFs on the Amsterdam market of NYSE Euronext. The ETFs are leveraged Bull and Bear funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses), of the MSCI Emerging Markets Index, the Russell 1000® Index and the Russell 1000® Financial Services Index.
These funds, as with all Direxion Shares ETFs, are intended for use only by sophisticated investors who understand the risks associated with seeking daily leveraged investment results and who plan to actively monitor and manage their positions in the funds. There is no guarantee that the funds will achieve their objective.
"Direxion is excited to begin offering our investment solutions in Europe through NYSE Euronext," stated Dan O'Neill, Direxion Shares' President. "We see a significant growth opportunity in the European market as demand from hedge funds and active traders increases for sophisticated products that enable tactical, short-term strategies in various market segments."
Many sophisticated advisors and institutional investors are using Direxion Shares 3x leveraged ETFs to hedge positions in their current portfolios, while others may use the ETFs to take advantage of short-term trading opportunities.
The MSCI Emerging Markets Index is designed to measure equity market performance in the global emerging markets. The Russell 1000® Index measures the performance of the large-cap segment of the U.S. equity universe; it includes approximately 1000 of the largest securities based on a combination of their market cap and current index membership. The Russell 1000® Financial Services Index tracks U.S. companies that provide financial services; its components have an average market capitalization of over $11 billion dollars and a median market capitalization of $4.4 billion dollars.
"Direxion continues to pioneer innovative investment solutions that enable investors to optimize their portfolio strategies," continued Mr. O'Neill. "Our listing on NYSE’s European market reflects our desire to grow as a significant player in the global ETF market."
The six Direxion ETFs listing on NYSE Euronext are:
Fund Name Symbol Benchmark Leverage ISIN --------- ------ --------------------------- -------- ------------ Bull Funds Direxion Daily Emerging Markets Bull 3X Shares EDC MSCI Emerging Markets Index 300% US25459W3007 Direxion Daily Large Cap Bull 3x Shares BGU Russell 1000(R) Index 300% US25459W8626 Direxion Daily Financial FAB Russell 1000(R) Financial 300% US25459W5168 Bull 3x Shares Services Index Bear Funds Direxion Daily Emerging Markets Bear 3x Shares EDZ MSCI Emerging Markets Index -300% US25459W4096 Direxion Daily Large Cap Bear 3x Shares BGZ Russell 1000(R) Index -300% US25459W8543 Direxion Daily Financial Bear 3x FAZ Russell 1000(R) Financial -300% US25459W4906 Shares Services Index
By providing both a Bull and a Bear fund to track indexes, Direxion gives seasoned investors the ability to seek competitive returns in rising and falling markets across a wide spectrum of diversified assets.
Members of the press may request more information on Direxion Shares, or speak to a member of the Direxion team by contacting Katrine Winther-Olesen at (973) 400-1341 or email@example.com.
Investors and financial professionals may contact Direxion to inquire about the ETFs or the Euronext Amsterdam listing by calling 1.866.476.7523, or +1 617 399 8820, or by sending an email to firstname.lastname@example.org.
Direxion Funds and Direxion Shares, managed by Rafferty Asset Management, LLC, offer leveraged mutual 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 $6.3 billion in assets under management as of December 31, 2009. 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.direxionshares.com.
The correlation sought by the bull and bear funds is generally a multiple of returns of the index/benchmark. For example, if on a given day, the Russell 1000 Index gains 1%, the Direxion Large Cap Bull 3x ETF will be managed to gain approximately 3%(3%= 300% of 1%). If the same index decreases 1%, the Direxion Large Cap 3x Bear ETF will be managed to gain approximately 3%.
An investor should consider the investment objectives, risks, charges, and expenses of Direxion Shares carefully before investing. The prospectus and summary prospectus contain this and other information about Direxion Shares. To obtain a prospectus and summary prospectus, please visit www.direxionshares.com. The prospectus and summary prospectus should be read carefully before investing.
Investing in funds that invest in specific industries or geographic regions may be more volatile than investing in broadly diversified funds. The use of leverage by a fund increases the risk to the fund. The more a fund invests in leveraged instruments the more the leverage will magnify gains or losses on those investments. The Funds and ETFs are not designed to track the underlying index over a longer period of time.
The risks associated with the funds are detailed in the prospectus, and include: risks of market timing activity and high portfolio turnover, risk of tracking error, risks of aggressive investment techniques, leverage risk, counterparty risks, risk of non-diversification, interest rate changes, adverse market conditions, risks of shorting instruments, inverse correlation risk, risks of investing in equity securities, risks of investing in small and mid capitalization companies, credit risk, financial services companies risk, concentration risk, geographic concentration risk, market condition risk, advisor's investment strategy risk, currency exchange risk, daily correlation risk, daily rebalancing and market volatility risk, depository receipt risk, foreign and emerging markets securities risk, sector securities risk, and special risks of exchange-traded funds. Aggressive investing would include the use of futures, enhanced betas, and shorting securities. Shorting securities occurs when investors sell securities they don't own and are committed to repurchasing eventually.
Distributor: Foreside Fund Services, LLC.
Contact: Katrine Winther-Olesen JCPR (973) 400-1341 email@example.com
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