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Rating:Going in a New Direxion Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, March 19, 2007

Going in a New Direxion

News summary by MFWire's editors

Direxion hires Andy O'Rourke as Vice Pres. and Marketing Director. In his new capacity Mr. O’Rourke will work on building brand and product awareness. Before Mr. O'Rourke migrated to Direxion he was Director of Distribution Marketing for MassMutual’s Retirement Services division. -ed.

Direxion Funds, a leading provider of leveraged index and alternative-class mutual fund products, today announced Andy O’Rourke has joined the company as Vice President, Marketing Director.

Mr. O’Rourke will lead Direxion Funds' overall marketing efforts, focusing on building brand and product awareness within the registered investment advisor community.

Ron Fernandes, Chief Executive Officer of Direxion Funds, noted that, “Andy is a seasoned marketing executive who shares our philosophy that innovation, excellence and partnership with advisors is the best way to build the Direxion brand in the evolving and rapidly growing leveraged index fund industry.”

Mr. O’Rourke was previously the Director of Distribution Marketing for MassMutual’s Retirement Services division. Prior to MassMutual, he worked for State Street Bank, Fidelity Investments, and Emplanet Retirement Services in various relationship management, product development, and strategic marketing positions.

Direxion Funds’ products offer leverage, liquidity and bull and bear choices, through a simple and concise investment process. Direxion Funds currently offer 34 mutual funds that may provide advisors with opportunities to magnify returns and protect against market downdrafts. Direxion Funds are used primarily by registered investment advisors to execute dynamic, active investment strategies in specific sectors such as currencies, fixed income securities, and a range of domestic and international equity asset classes.

About Direxion Funds

Direxion Funds (formerly Potomac Funds), managed by Rafferty Asset Management, LLC, is a major provider of leveraged index and alternative-class mutual 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 $1.3 billion in assets under management. Direxion’s management team has successfully grown major financial services businesses in highly competitive environments. The company’s business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with a focused group of distribution partners. Direxion Funds offices are in New York and Boston.

For more information, please visit www.direxionfunds.com.  

Edited by: Erin Kello

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