Direxion Hires Portfolio Manager

Jun 30 2006 | 8:56pm ET

Direxion Funds, creator of leveraged index and alternative-class mutual fund products, has hired Loren Norton as a high yield portfolio manager. Norton was most recently at Credit Suisse and has also worked at Morgan Stanley and Fidelity Investments.

Direxion Funds is managed by Rafferty Asset Management, which provides leveraged index and alternative-class mutual fund products for investment advisors and sophisticated investors. The company has approximately $1 billion in assets under management.

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