ProFunds Announces Change to Mutual Fund Lineup

ProFunds | December 14, 2022

BETHESDA, MD – December 14, 2022 – ProFunds announced today plans to liquidate and close the Telecommunications UltraSector ProFund on or about February 7, 2023, based on an ongoing review of ProFunds product offerings.

Fund Name Investor Class Ticker Service Class Ticker
Telecommunications UltraSector ProFund TCPIX TCPSX

 

The last day the fund will accept purchases of new shares is January 5, 2023. Shareholders may continue to reinvest distributions in the fund until January 26, 2023. On or about January 17, 2023, the fund will begin the process of liquidating the portfolio and will no longer be managed in accordance with its investment objective. Any shareholders remaining in the fund will have their shares redeemed at net asset value on or about February 7, 2023.

About ProFunds

Founded in 1997, ProFunds has 25 years of experience managing a diverse lineup of some of the most innovative funds in the financial industry and offers trading flexibility to all shareholders. In addition to classic, broad-market index funds, ProFunds offers leveraged and inverse funds that track a variety of assets, including broad-market and sector-based domestic and international equity, fixed income, crypto, commodity, currency, CDS and other benchmarks. Together with ProShares, which launched the first U.S. leveraged and inverse exchange traded funds (ETFs) in 2006, ProFunds and its affiliates manage approximately $60 billion in assets for investors worldwide.