NEW YORK, May 20, 2013 /PRNewswire/ -- Direxion, a leader in alternative investment solutions, announces that Stephen Rudman has joined Rafferty Asset Management, the advisor to Direxion Funds and Direxion Shares, as a Managing Director and the Head of Sales. In this role, he will lead all of Direxion's sales initiatives for both its exchange-traded fund (ETF) and alternative-strategy mutual fund products, and is part of the firm's senior leadership team.
Mr. Rudman has more than 25 years of experience in the financial services industry. Prior to Direxion, Mr. Rudman served as Head of Internal Sales at PIMCO, where he played an important role in generating sales growth. Earlier in his career, Mr. Rudman was a Vice President at Eaton Vance in Florida, where he successfully grew their client base and assets.
"Direxion is uniquely positioned to capitalize on the growing demand among investors for short- and long-term alternative investment strategies, and I look forward to leading efforts to deliver Direxion's products to a greater number of investors," said Mr. Rudman. "In addition to working with our client-facing team to provide solutions to investment professionals, I will spearhead efforts to help advisors achieve diversification by integrating our alternative investment products into their clients' portfolios."
Mr. Rudman reports to Eric Falkeis, President and Chief Operating Officer of Rafferty. Mr. Falkeis joined Direxion earlier this year. Direxion also announced that Patrick Rudnick was appointed Chief Financial Officer earlier this month.
"Steve's extensive experience implementing strategic corporate initiatives and building effective client-facing teams make him an ideal fit for Direxion's senior leadership," said Mr. Falkeis. "He'll be instrumental in our plans for extending the distribution of our innovative strategies among financial advisors."
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 visit www.direxionfunds.com.
An investor should consider the investment objectives, risks, charges, and expenses of Direxion Shares and Direxion Funds carefully before investing. The prospectus and summary prospectus contain this and other information about Direxion Shares and Direxion Funds. To obtain a prospectus, contact Direxion at (877) 437-9363. The prospectus or summary prospectus should be read carefully before investing.
The risks associated with the funds are detailed in the prospectuses which include Adverse Market Conditions Risk, Adviser's Investment Strategy Risk, Aggressive Investment Techniques Risk, Commodities Risk, Concentration Risk, Counterparty Risk, Credit Risk, Currency Exchange Rate Risk, Debt Instrument Risk, Depositary Receipt Risk, Early Close/Trading Halt Risk, Emerging Markets Risk, Equity Securities Risk, Foreign Securities Risk, Gain Limitation Risk, Geographic Concentration Risk, Interest Rate Risk, Intra-Calendar Month Investment Risk, Inverse Correlation Risk, Leverage Risk, Lower-Quality Debt Securities, Market Risk, Market Timing Activity and High Portfolio Turnover, Monthly Correlation Risk, and Negative Implications of Monthly Goals in Volatile Market.
Distributed by Rafferty Capital Markets LLC.