ProFund Advisors LLC, the investment adviser to the Bethesda, Md., ProFunds family of index-based mutual funds, said it launched the UltraShort Japan ProFund on Monday.
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The portfolio is designed to provide short, magnified exposure to the Japanese equity market by seeking daily investment results, before fees and expenses, that correspond to twice the inverse of the daily performance of the Nikkei 225 Stock Average.
UltraShort Japan ProFund can be used to seek profits from a downturn in the Nikkei 225 Stock Average, which is made up of 225 actively traded and liquid Japanese companies listed on the Tokyo Stock Exchange. It can also be used to hedge a long investment in Japanese equities.
