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Rating:ProFunds Starts Fund Rollout Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, February 04, 2000

ProFunds Starts Fund Rollout

Reported by Hayley Green

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.

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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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