Direxion today announced that the Direxion Indexed Managed Futures Strategy Fund (DXMAX) has gathered more than $100 million in assets under management since launching in February 2012.
Bloomberg data shows that the fund managed some $471 million as of June 10.
The fund employs a rules-based approach to betting on commodities, interest rates and currencies. However, unlike other managed futures funds, it does not invest in equity futures, according to the firm.
“Asset inflows to managed futures are expected to increase over the next several years as investors continue to experience difficulty achieving diversification by investing in traditional asset classes,” stated Edward Egilinsky, head of alternative investments at Direxion.
“The fact that this Fund has been able to reach this asset milestone in a relatively short period of time is a testament to the growing number of advisors that see value in our strategy as a complement to other managed futures funds.”