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Tuesday, March 20, 2007

Exponential Growth

News summary by MFWire's editors

Nine months after launch ProShares has passed go and collected $4 billion. ProShares provides ETFs that short or magnify exposure to well-known market indexes. They believe that when the market is down they'll be staying up. -ed.


ProFunds Group today announced that its ProShares family of exchange traded funds (ETFs) passed the $4 billion mark—less than nine months after its launch. ProShares offers the first and only ETFs designed to provide short or magnified exposure to well-known market indexes.

"The stock market’s recent volatility has sparked even more interest in ProShares. Since the big one-day decline in the Dow on February 27, our average volume has doubled to more than 20 million shares per day. And, while our assets were already growing rapidly—by an average of $100 million per week—in the three weeks since that drop, our assets are up by more than $1 billion,” said Michael Sapir, CEO of ProShare Advisors.

“When markets tumble, we believe investors are especially attracted to how easily they can execute shorting strategies using ProShares,” he explained. “Investors can seek to hedge other portfolio holdings or to profit from the downturn simply by buying one of our ETFs.”

ProShares now offers more than 52 ETFs, 29 of which are designed to provide short exposure by moving in the opposite direction of the indexes underlying their benchmarks. ProShares also offers 23 Ultra ProShares—designed to provide double the daily performance of the indexes underlying their benchmarks (before fees and expenses).

About ProFunds Group

ProShares are the first and only ETFs that provide built-in short or magnified exposure to well-known indexes, ranging from broad small, mid, large cap, and style indexes to 11 sectors. In addition to ProShares ETFs, ProFunds Group manages ProFunds mutual funds, the nation's largest lineup of indexed mutual funds.¹ Since 1997, ProFunds has provided mutual fund investors with access to innovative mutual fund strategies, including funds that seek to magnify daily index performance and funds that seek to increase in value when markets decline. ProFunds Group describes the portfolio managers common to ProFund Advisors LLC, advisor to ProFunds mutual funds and ProShares Advisors LLC, advisor to ProShares ETFs.

Carefully consider the investment objectives, risks, and charges and expenses of ProShares before investing. This and other information can be found in their prospectuses. Read the prospectus carefully before investing. For a ProShares prospectus, please visit www.proshares.com and seek advice from your financial advisor or broker dealer representative. Financial professionals can call ProShares at 866-PRO-5125.

Investing involves risk, including the possible loss of principal. Please note that in addition to the normal risks associated with investing, ProShares entail certain risks, including, in all or some cases, aggressive investment technique, inverse and imperfect correlation, leverage, market price variance and short sale risks. These risks may pose risks different from, or greater than, those associated with a direct investment in the securities underlying the funds' benchmarks, can increase volatility, and may dramatically decrease performance. In addition, ProShares are not diversified investments. Please see the prospectus for a more complete description of these risks.

ProShares ETFs are distributed by SEI Investments Distribution Co. (SEI), which is not affiliated with any ProFunds Group affiliate. ProFunds mutual funds are distributed by ProFunds Distributors, Inc (PDI). SEI and PDI are not affiliated.

¹ Source: Lipper, October 6, 2006. Lipper defines “indexed fund” as an open-end mutual fund (not an ETF) that falls into one of the following subcategories: pure index, enhanced index or index-based. The majority of ProFunds are categorized by Lipper as enhanced index funds. 

Edited by: Erin Kello


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