What do you see as the strengths of Direxion’s ETF team?
I’ve spent most of my career at State Street Global Advisors, and I’ve spent some time at Oppenheimer Funds. Direxion, in the grand scheme of things, from an asset management perspective, isn’t a boutique, but it’s not tiny either. We have a modest number of people, under 40 in all.
Our real skill set comes in portfolio construction and risk management. Managing leveraged and inverse funds, and managing them well, and making decisions like we did recently to lower leverage points [for a number of funds], comes with years of experience and significant systems built up to effectively manage those funds.
For a larger view, please click on the image above.
We deliver on investor expectations. Many firms can say that—large firms with index heritage and the like. In our particular case, using our proprietary systems and leveraging third-party systems, we’ve built up a really sound skill set and DNA in shorting stocks, in accessing derivatives, and in managing portfolios internationally and in the U.S., across equities and fixed income. That’s one of the reasons I was attracted to join the firm to begin with, and the ability to bring a new product lens to that base was really exciting.