ProFund Advisors will be launching three new ProFunds on Monday, February 7, 2000. The
UltraSmall-Cap ProFund,
UltraMid-Cap ProFund and
UltraJapan ProFund will be the latest members of the ProFunds family.
ProFunds creates enhanced mutual fund indexes designed to double the daily performance of that index by using leverage. The UltraJapan ProFund will track the Nikkei 225 Stock Average, the UltraSmall-Cap ProFund will track the Russell 2000 Index and the UltraMid-Cap ProFund will track the S&P MidCap 400 Index.
"We have grown to $2.3 billion in assets under management and felt it was time to expand our base. These products round out our index line," said
Louis Mayberg, president of ProFunds. "We will continue to grow as the company realizes the need."
In December, ProFunds
filed for 17 sector funds which should launch in the second quarter of this
year, Mayberg said.
The newly registered funds:
| Fund |
Type |
Date Filed |
| Utilities Profund |
Equity |
12/23/99 |
| Transportation Profund |
Equity |
12/23/99 |
| Telecommunications Profund |
Equity |
12/23/99 |
| Technology Profund |
Equity |
12/23/99 |
| Retailing Profund |
Equity |
12/23/99 |
| Precious Metals Profund |
Equity |
12/23/99 |
| Leisure Profund |
Equity |
12/23/99 |
| Internet Profund |
Equity |
12/23/99 |
| Health Care Profund |
Equity |
12/23/99 |
| Financial Services Profund |
Equity |
12/23/99 |
| Energy Services Profund |
Equity |
12/23/99 |
| Energy Profund |
Equity |
12/23/99 |
| Electronics Profund |
Equity |
12/23/99 |
| Consumer Products Profund |
Equity |
12/23/99 |
| Biotechnology Profund |
Equity |
12/23/99 |
| Basic Materials Profund |
Equity |
12/23/99 |
| Banking Profund |
Equity |
12/23/99 |
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