ProFunds Group, a Bethseda, Maryland-based manager of short and leveraged mutual and exchange-traded funds, has announced the appointment of Todd Johnson as chief investment officer.
ProFunds Group, a Bethseda, Maryland-based manager of short and leveraged mutual and exchange-traded funds, has announced the appointment of Todd Johnson as chief investment officer.
Johnson, formerly president and chief investment officer of World Asset Management, will oversee all investment operations for ProShares ETFs and ProFunds mutual funds. The firm’s acting chief investment officer, George O. Foster, is assuming new responsibilities, including directing the firm’s product development strategy.
‘Todd brings to our leadership team decades of experience in indexed and quantitative investing,’ says ProFunds chairman and chief executive Michael Sapir. ‘His track record in managing an investment team handling a wide variety of index-based strategies makes him ideally suited to take on that role for the growing range of ProShares and ProFunds.
‘George’s innovative approach and long-time experience managing our portfolios make him uniquely qualified to bring new focus to our product development efforts. We believe having Todd and George in these roles strengthens our position as we continue our rapid expansion.’
At World Asset Management, which manages more than USD14bn in indexed and quantitative strategies primarily for institutional investors, Johnson oversaw management of more than 100 portfolios, including collective funds, mutual funds, and separately managed accounts for equity, fixed-income, and real estate investment trust investments, and was a member of the company’s board of directors.
He started his career in 1986 with Manufacturers Bank, joining Woodbridge Capital Management in 1992 and World Asset Management in 1994. Foster has been with ProFunds for nine years, as director of portfolio from 2004 until 2008 and subsequently as acting chief investment officer.
Established in 1997, the USD25bn ProFunds Group manages 72 ProShares short and leveraged ETFs and more than 115 ProFunds mutual funds, as well as the Horizons BetaPro ETF range in Canada.
