The investment seeks to profit from a decline in the value of lower-quality debt instruments by creating short positions in such instruments and derivatives of such instruments. The fund normally invests at least 80% of its net assets (plus any borrowing for investment purposes) in high yield debt instruments, commonly referred to as "junk bonds," and certain derivatives of such instruments, including derivatives which isolate the credit component of such junk bonds and do not provide general interest rate exposure. The Adviser will generally create short positions for the HY Bear fund. The fund is non-diversified.
Fund filings (PDF) »
Tony Ng (Started: Oct 19, 2010)
Paul Brigandi (Started: Oct 19, 2010)
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Direxion Funds, 33 Whitehall St., 10th Floor, USA