of Exchange-Traded Fund (ETF) Operations at U.S. Bancorp Fund Services, where he worked closely with Direxion for more than a decade.
At Direxion, Mr. Falkeis will report to Dan O’Neill, Chief Executive Officer of Rafferty. Mr. Falkeis is Rafferty’s first COO, and will work alongside Mr. O’Neill to oversee day-to-day business operations and lead strategic planning and business development efforts. In the latter area, Mr. Falkeis intends to ensure Direxion’s leveraged and inverse ETF platform continues to experience organic growth. He will also focus on growing the firm’s non-leveraged, strategic index-based ETFs and its alternative strategy mutual fund lineup, in addition to exploring other expansion opportunities.
“Working closely with Direxion for 14 years gives me unique insights to help identify ways we can maximize the profitability and efficiencies of Direxion’s ETFs and mutual funds, while pursuing additional avenues for growth,” said Mr. Falkeis. “Direxion remains committed to maintaining and expanding its array of alternative investment strategies in order to help short- and long-term investors pursue healthy returns in both bear and bull markets.”
Mr. Falkeis spent more than 15 years at U.S. Bancorp Fund Services, where he received Money Management Executive‘s Innovator of the Year Award and grew the firm into a top ETF service provider. He holds a Certified Public Accountant (CPA) designation, received his Bachelor of Business Administration degree in Accounting from Marquette University and is a member of the Marquette University Accounting Advisory Board.
“Direxion’s products are unique investment vehicles which Eric has played an integral role in building,” said Mr. O’Neill. “Eric’s expertise will prove vital to our clients as they seek out a wider variety of dynamic, active and cost-effective portfolio strategies that allow them to grow their businesses.”
For more information about Direxion, please contact James Doyle at 973-850-7308 or [email protected].
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. For more information, please visitwww.direxionfunds.com or www.direxionshares.com.
An investor should consider the investment objectives, risks, charges, and expenses of the Direxion Funds carefully before investing. The prospectus and summary prospectus contain this and other information about Direxion Funds. To obtain a prospectus or summary prospectus, please contact the Direxion Funds at 800.851.0511. The prospectus or summary prospectus should be read carefully before investing.
Investing in index-based funds may be more volatile than investing in broadly diversified funds. The use of leverage by a mutual fund increases the risk to the fund. The more a fund invests in leveraged instruments the more the leverage will magnify gains or losses on those investments.