ProFund Advisors filed a registration statement with the SEC for a new series of exchange-traded funds.
The firm has filed an application with the SEC for an order seeking exemption from several provisions of the Investment Company Act of 1940. The offering of the ETFs managed by ProFund Advisors is contingent upon the SEC's approval of the exemptive application, which remains under review, and the SEC declaring the registration statement effective.
The firm intends that its ETFs will have an objective other than that of approximating the performance of a specified index. The ETFs, while managed based on established indexing methodologies, will provide leveraged exposure to an index or the inverse of an index.
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