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Monday, May 06, 2002|
ProFunds Adds to Family
ProFunds is launching its Rising Rates Opportunity ProFund. This fund is designed to rise in price when the most recently issued 30-year U.S. Treasury Bond falls. ProFunds is relying on a recent Harris Interactive survey which concluded that many investors believe interest rates will rise over the next two years. That same survey also found that many investors do not understand the correlation between interest rates and bond prices.
"We think the time is right to offer investors Rising Rates Opportunity ProFund, an innovative mutual fund that has the potential to increase in value as interest rates rise," contended Michael Sapir, chairman and ceo of ProFund Advisors. "Rising Rates Opportunity ProFund provides the potential to profit in a rising interest rate environment or to hedge the bond portion of a portfolio."
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