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Rating:A Futures Fund Hits $100MM Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 18, 2013

A Futures Fund Hits $100MM

Reported by Tommy Fernandez

It looks like people are warming up to futures funds.

Direxion [profile] has revealed that its Direxion Indexed Managed Futures Strategy Fund (DXMAX) has garnered more than $100 million in assets under management since its launch in February 2012.

According to the company, the fund takes a rules-based approach to managed futures investing. It seeks investment results, before fees and expenses, which are comparable to the performance of the Auspice Managed Futures ER Index, a long/short managed futures index. The Fund provides exposure to 21 futures markets, including commodities, interest rates and currencies, in a cost-efficient way that does not have additional underlying manager or incentive fees.

Edward Egilinsky, managing director and head of alternative investments at Direxion stated that “asset inflows to managed futures are expected to increase over the next several years as investors continue to experience difficulty achieving diversification by investing in traditional asset classes,”

Here is the press release:
Company Press Release

Growth Since Inception 16 Months Ago Demonstrates Increasing Interest in Achieving Diversification Through Managed Futures



  Direxion, a leader in alternative investment solutions, announces that the Direxion Indexed Managed Futures Strategy Fund (DXMAX) has obtained more than $100 million in assets under management since its inception in February 2012, further strengthening the firm as a premier provider of alternative investment strategies.

  The Direxion Indexed Managed Futures Strategy Fund offers a rules-based approach to managed futures investing. It seeks investment results, before fees and expenses, which are comparable to the performance of the Auspice Managed Futures ER Index, a long/short managed futures index. The Fund provides exposure to 21 futures markets, including commodities, interest rates and currencies, in a cost-efficient way that does not have additional underlying manager or incentive fees. Unlike other managed futures funds, it does not invest in equity futures, a feature which provides additional diversification.

  “Asset inflows to managed futures are expected to increase over the next several years as investors continue to experience difficulty achieving diversification by investing in traditional asset classes,” said Edward Egilinsky, Managing Director and Head of Alternative Investments at Direxion. “The rules-based and low-cost approach1 Direxion takes to provide exposure to managed futures is indicative of our commitment to deliver opportunistic alternative strategies that meet the targeted needs of advisors and investors through varying market conditions.”

  The Fund, which is available on most major broker-dealer platforms, tracks the index that focuses on shorter-term price trends to determine whether to hold long or short positions on individual components. The Fund’s strategy also includes embedded risk controls and a smart roll yield2.     

  “The fact that this Fund has been able to reach this asset milestone in a relatively short period of time is a testament to the growing number of advisors that see value in our strategy as a complement to other managed futures funds,” said Mr. Egilinsky. “Our Fund’s unique attributes provide exposure to the managed futures asset class in a compelling way. Advisors are constantly looking for liquid alternative strategies that can potentially mitigate overall risk within their clients’ portfolios to smooth out the ride. Managed futures, over time, have shown the ability to provide this.”        
 

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