has recently filed to launch a set of Internet funds on November 17th that will mirror one another .
The Potomac Internet Plus Fund
will track the performance of the Inter@ctive Week Internet Index. The Potomac Internet Short Fund
will seek to do just the opposite by increasing in value as the index declines.
The Inter@ctive Week Internet Index is a market-cap weighted index that includes Internet companies involved in infrastructure and access, developing and marketing Internet content, software and e-commerce.
All Potomac funds including the two Internet funds are distributed through Rafferty Asset Management
Daniel O'Neill, managing director at Potomac Funds, would not comment on any specific information about the funds but did say that the Potomac Funds are designed to allow investors to make decisions about the market and sector.
"We set up pairs of funds, long and short, that are designed for investors with opinions," O'Neill said. "We encourage investors to make their own decisions."
O'Neill pointed out that The Potomac OTC Plus Fund
was one of the best preforming funds last year because over-the-counter stocks did well. However, its mirror fund, The Potomac OTC/Short Fund
was one of the year's worst performers.
The advisor class of shares will have a .75% managment fee. The broker class will have the same .75% management fee and an 1% 12-1b fee. The expense ratio is 2.50%.
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