Rafferty Asset Management is the sponsor of the Direxion Funds. Rafferty AM is owned by Larry Rafferty'sRafferty Holdings. Rafferty Holdings also owns: Hilton Capital Management, an RIA focused on tactical asset allocation; and Rafferty Capital Markets, a broker-dealer dating back to 1987 that has also been serving as a mutual fund distributor since 1998.
Direxion has been providing modern portfolio alternatives since 1997. Direxion is a self-proclaimed innovator in its field, siting a number of "firsts" in the investment management company. Direxion is continuing its success from having the first 250-percent leveraged index funds in May 2006 and now the first leveraged 300-percent ETF.
The firm originally established as Potomac Funds in 1997 underwent rebranding to Direxion Funds in 2006. The new objective, centered around expanding sales and product distribution, made way for the launch of Direxion Shares in 2008. This launch allowed the firm to provide leveraged and inverse ETFs and earn recognition quickly due to its Direxion Daily Financial Bull 3x Shares (FAS) and Direxion Financial Bear 3x Shares' (FAZ) popularity. That following year, Direxion Daily Financial Bear 3x (FAZ) traded over 27 billion shares for the year. It became the 4th highest traded exchange traded product in volume on the New York Stock Exchange in 2009.
Larry Rafferty Founder, Owner, CEO, Rafferty Holdings, LLC
Dan O'Neill CEO, Direxion Investments
Eric Falkeis Chief Operating Officer, Managing Director, Direxion Investments
Michael Rafferty President, Rafferty Holdings, LLC
Rob Nestor President, Direxion
Andy O'Rourke Chief Marketing Officer, Managing Director, Direxion Funds
Dave Mazza Managing Director, Head of Product, Direxion Funds
Ben Woloshin Managing Director, Head of National Accounts and Relationship Management, Direxion Funds
John Cadigan Managing Director, National Sales Manager, Arrow Funds
Edward Egilinsky Managing Director, Alternative Investments, Direxion Funds
Pat Rudnick Chief Financial Officer, Managing Director, Direxion Funds
Paul Brigandi Head of Trading, Managing Director, Direxion Funds