|By PR Newswire||
|March 31, 2014 01:53 PM EDT||
NEW YORK, March 31, 2014 /PRNewswire/ -- Direxion, a leader in alternative investment solutions, including ETFs and mutual funds, has selected Brian Jacobs as its President. Brian is a 25-year veteran of the global asset management industry, and he's taking the reins at Direxion at a time when liquid alternatives are growing in popularity.
As of Monday, which will be his first day at the firm, Brian will be based in New York and will report to Dan O'Neill, Chief Executive Officer of Direxion. This hire solidifies Direxion's senior management team, building further on the hire of Eric Falkeis as Chief Operating Officer in March of 2013.
"We are very excited to work with an established industry leader like Brian, who has a proven track record of building successful asset management companies," said Mr. O'Neill. "Given his broad experience in distribution and alternative investments, Brian's expertise will prove invaluable in helping us enhance our capabilities and products to meet the rise in demand from both retail and institutional investors."
Before joining Direxion, Brian served as a leading industry consultant at the firm he founded, Jacobs Strategic Consulting. There, he consulted with a number of major asset managers and, among other projects, structured a long-term joint venture to launch and distribute a wide range of alternative mutual funds for his client, Cliffwater LLC, and Virtus Investment Partners (VRTS).
Prior to that, Brian served as CEO of Hatteras Funds, a boutique alternative investment specialist. He joined Hatteras after more than 18 years at two large asset management organizations — Eaton Vance and Allianz/PIMCO. Between 1990 and 2008, Brian led the firm's sales teams, which raised more than $150 billion; he also organized and completed 24 closed-end fund I.P.O's.
Brian is the former Chairman of the Money Management Institute's Board of Governors and has served on the Foundation for Financial Planning's Board of Trustees.
"Direxion is like the Audi of the ETF and mutual fund industry," Brian said. "It has a really strong reputation that's only getting stronger. It has significant potential for growth, and has built a robust infrastructure that seeks to build better outcomes for individual investors and advisors that serve them."
"I'm thrilled to join the team," Brian added.
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 $7.3 billion in assets under management as of 12/31/13. 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 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.
An investment in the Funds involves risk, including the possible loss of principal. The Funds are non-diversified and include risks associated with concentration risk which results from the Funds' investments in a particular industry or sector and can increase volatility over time. Active and frequent trading associated with a regular rebalance of the fund can cause the price to fluctuate, therefore impacting its performance compared to other investment vehicles. For other risks including correlation, compounding, market volatility and specific risks regarding each sector, please read the prospectus.
Distributor: Rafferty Capital Markets, LLC.