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Thursday, June 04, 2009

ProShares Goes Ultra International

News summary by MFWire's editors

ProShares added to its lineup of short and leveraged funds Wednesday with the launch of four new ETFs. IndexUniverse reported Thursday on the Bethesda, Maryland-based fund firm's new ETFs that provide leveraged international exposure.

The four NYSA arca-listed "ultra" funds are based on four different international indexes: the MSCI EAFE Index, the MSCI Emerging Markets Index, the FTSE/Xinhua China 25 Index and the MSCI Index . Each fund is designed to take 200% daily positions in their respective index, and will provide a positive counterpoint to ProShares' existing short international indexes structured on the same benchmarks.

ProShares apparently plans to continue expanding its international options. Michael Sapir, ProFunds chairman and CEO noted "These new ETFs complement our existing ETFs that are designed to provide short (or inverse) exposure to the same international indexes. Over the coming weeks, we plan to further expand our international offerings with ETFs covering more regions and specific countries."

A registration filed with the SEC shows that some other international short funds on the horizon may include UltraShort MSCI Europe, UltraShort Pacific ex-Japan, UltraShort MSCI Brazil and UltraShort MSCI Mexico Investable Market.


PRESS RELEASE

First ETFs Designed to Provide Twice the Daily Return of EAFE, Emerging Markets, China and Japan

Bethesda, MD, June 4, 2008—ProFunds Group, the world's largest manager of short and leveraged funds,1 announced today that it is launching four new ProShares ETFs, the first designed to seek twice the daily returns of indexes covering developed foreign markets, emerging markets, China and Japan. The new ETFs will be listed on NYSE Arca today.

"With some international markets posting strong year-to-date returns, investors are expressing interest in tools that allow them to gain magnified exposure to these markets," said Michael L. Sapir, ProFunds Group Chairman and CEO. "These new ETFs complement our existing ETFs that are designed to provide short (or inverse) exposure to the same international indexes. Over the coming weeks, we plan to further expand our international offerings with ETFs covering more regions and specific countries." 

Edited by: Meredith Mazzilli


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