Statement from ProFunds Regarding the SEC Derivatives Proposal
The U.S. Securities and Exchange Commission (the "SEC") has voted to propose a rule on the use of derivatives by ETFs and mutual funds such as those offered by ProShares and ProFunds.
There may be some speculation about the impact of this proposed rule. Here are key facts you should know:
- We are highly confident that we would be able to continue to offer and manage our 2x and inverse 2x mutual funds and ETFs consistent with their investment objectives under the rule as proposed.
- We are examining the rule to determine its impact on our ability to offer and manage 3x and inverse 3x funds.
- It is very common for rules to change significantly from the proposal phase to the adoption phase and it is even more common for that process to take a very long period of time. Until a rule is implemented, there will be no change to our operations as a consequence of this proposal.
In the meantime, if you have questions, we would be happy to discuss them at your convenience. Call 888.776.5717