ProFunds’ Assets Soar 120%
What a difference 5 years makes. USA Today released an article today showing how the mutual fund landscape has shifted since the bear market started.
Highlights include the fact that the largest mutual fund is now a Fidelity Cash Reserve fund with $130.7 billion in assets. While Fidelity takes the largest fund title, they’ve lost the largest fund company title to Vanguard. These numbers reflect the fact that there has been a bear market in stocks and a bull market in cash.
One fund company that does offer stock funds and has benefited from the bear market is Profunds. Their line of funds include “inverse funds” which are designed to increase in value when the markets fall. Profunds has see an 120% increase in managed assets this year.
