Direxion plans for billion-dollar expansion into hedged mutual funds
By Rob Copeland
Wed Oct 19, 2011
The New York firm is preparing to launch at least three new funds next year.
Direxion Funds, the $7.5 billion division of brokerage
Rafferty Capital Markets, plans to roll out at least three new
hedge fund-like strategies in 2012, doubling its lineup of
hedged mutual funds.
The new funds will invest in managed futures, real estate
stocks and other long-short strategies, adding to its existing
roster of currency and long/short commodities and equities
funds. Direxion hired Ed Egilinsky from investment advisor
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