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Rating:Direxion Adopts From a Sibling and Preps Lightly Leveraged Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 24, 2014

Direxion Adopts From a Sibling and Preps Lightly Leveraged Funds

Reported by Neil Anderson, Managing Editor

Direxion Investments [profile] just adopted a sibling's mutual fund, even as Direxion is prepping its first "lightly leveraged" funds ETFs for launch next month.

Rafferty Asset Management, advisor to Direxion's funds, is now the advisor to the Direxion Hilton Tactical Income Fund. Rafferty Asset Management and Hilton Capital Management, the fund's subadvisor, are both subsidiaries of Rafferty Holdings.

Looking ahead, Direxion chief marketing officer Andy O'Rourke confirms that the fund shop is ready to roll out its new lightly leveraged ETFs next month, offering 125 percent exposure to different indexes (as opposed to 200 percent or 300 percent). O'Rourke describes those planned ETFs as "good educational vehicles for looking at how leveraged funds work." And Direxion is pondering other product opportunities, too.

"We tend to kind of lean more towards rules-based index strategies in the more non-traditional space," O'Rourke tells MFWire. "We have a number of ideas we're kind of kicking around there."

Those ideas include more volatility or downside protection products, and non-traditional investments that generate income.

As for the recent adoption, Hilton has been managed the strategy behind the fund since 2001. Hilton launched the strategy in mutual fund form in September 2013, as the Hilton Yield Plus Fund

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