Direxion, a leader in alternative investment solutions, has launched two new leveraged inverse exchange-traded funds (ETFs), the Direxion Daily Brazil Bear 3x Shares (BRZS) and Direxion Daily South Korea Bear 3x Shares (KORZ).
The Direxion Daily Brazil Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% of the inverse performance of the MSCI Brazil 25/50 Index. The MSCI Brazil 25/50 Index measures the equity market performance of mid- and large-cap Brazilian companies. Similarly, the Direxion Daily South Korea Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% of the inverse performance of the MSCI Korea 25/50 Index. The MSCI Korea 25/50 Index measures the equity market performance of mid- and large-cap South Korean companies.
The ETFs do not attempt to achieve their investment objectives over periods longer than one day, and there is no guarantee that the funds’ objectives will be met.
“We conduct market analysis and reviews on a constant basis in order to identify new opportunities in various regions and sectors for sophisticated investors who actively manage their trading positions,” saidEric Falkeis, President of Direxion. “Brazil and South Korea are emerging markets with many successful commodity, technology and automobile companies. By complimenting the newly launched bull funds, with this pair of 3x bear products, Direxion is allowing investors to trade through these rapidly changing markets, with tools for both sides of the trade.”
About Direxion
Direxion Funds and Direxion Shares, managed by Rafferty Asset Management, LLC, offer leveraged index funds, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $6.5 billion in assets under management as of 3/31/13. The company’s business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners.
