ProFunds today launched two unleveraged index-based funds--Large-Cap Growth and Large-Cap Value--to round out its investment offerings. The growth fund is benchmarked to the S&P 500/BARRA Growth Index before expenses and fees, while the value fund is to match the S&P 500/BARRA Value Index.

"Because our funds don't impose redemption fees or limitations on reallocating assets, these ProFunds can be used to adjust a portfolio's style tilt or capitalization weighting based on current market conditions and investor objectives," said Michael L. Sapir, chairman and CEO of ProFund Advisors LLC, in a release.

The two funds complete ProFunds' ability to provide unleveraged exposure to the nine major style box categories. The other seven are the Bull, three mid-cap funds and a trio of small-cap funds.

"We use the S&P/BARRA indexes because they are widely followed by investors and financial professionals. The liquidity and transparency they offer are helpful in managing the funds and providing predictable exposure for our investors," Mr. Sapir said.

The new funds are the 45th and 46th funds offered by the Bethesda, Maryland-based ProFunds.  

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