announced today, in a release, the launch of its two new currency ETFs: Ultra Australian Dollar
and UltraShort Australian Dollar
. These are the first ETFs in the U.S. providing significant exposure to the Australian dollar.
Michael L. Sapir
, chairman and CEO of ProShare Capital Management said "The Australian dollar is one of the world's most actively traded currencies. We are pleased to offer investors additional ways to manage risk or potentially take advantage of moves in this widely followed currency market."
A representative from ProShares was not available for comment.
COMPANY PRESS RELEASE
ProShares Launches First Geared Australian Dollar ETFs
Joins Popular Geared Euro and Yen ETFs
Bethesda, MD, July 19, 2012—ProShares, a premier provider of alternative exchange traded funds (ETFs), announced today the launch of ProShares Ultra Australian Dollar (NYSE: GDAY) and ProShares UltraShort Australian Dollar (NYSE: CROC), the first ETFs in the U.S. providing magnified or inverse exposure to the Australian dollar. The ETFs list on NYSE Arca today.
—GDAY seeks to provide 2x the daily performance of the U.S. dollar price of the Australian dollar, before fees and expenses.
—CROC seeks to provide -2x the daily performance of the U.S. dollar price of the Australian dollar, before fees and expenses.
"The Australian dollar is one of the world’s most actively traded currencies," said Michael L. Sapir, Chairman and CEO of ProShare Capital Management, the sponsor of the funds. "We are pleased to offer investors additional ways to manage risk or potentially take advantage of moves in this widely followed currency market."
The introduction of GDAY and CROC brings ProShares' popular lineup of geared currency ETFs to seven. The firm's existing geared currency ETFs on the euro and the yen have garnered more than $1 billion of assets since launching less than four years ago.
ProShares offers the nation's largest lineup of alternative ETFs, which includes the world's largest family of geared ETFs, with assets of nearly $22 billion.
Offering the nation's largest lineup of alternative ETFs, ProShares enables investors to go beyond the limitations of conventional investing and meet today's market challenges. Each ProShares ETF provides access to an alternative investment strategy delivered with the liquidity, transparency and cost effectiveness of an ETF. ProShares' lineup of 138 ETFs includes Global Fixed Income, Hedge Strategies, Geared (leveraged and inverse), and Inflation and Volatility ETFs.
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