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Rating:ProFunds Launches Rare Currency Funds Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, March 08, 2005

ProFunds Launches Rare Currency Funds

by: Theresa Sim

Bethesda, Maryland-based ProFunds, a fund firm known as timers' haven, has launched two new funds tied to the U.S. Dollar.

The Rising U.S. Dollar ProFund and the Falling U.S. Dollar ProFund are both benchmarked to the U.S. Dollar Index, and will be calculated based on changes in six currencies. The Rising fund will match the index and the Falling fund will be the inverse of the index.

For both funds, total fees on direct-sold Investor Class shares are 145 basis points, and Service Class shares (sold through an advisor) are 245 basis points, according to the funds' SEC filing.

ProFunds and other firms that do not impose limits on the number of investor exchanges picked up steam in the post-scandal era, as timers looked to funds that accomodated short-term holding.

ProFunds was the seventh fastest growing fund firm in 2004, increasing total assets under management by nearly 50 percent, according to Strategic Insight.  

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