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ProShares ETFs to pay zero year-end capital gain distributions


ProFunds Group, a manager of leveraged and inverse funds, expects to pay zero 2009 year-end capital gain distributions on all of its 77 leveraged and inverse ProShares equity and fixed income exchange-traded funds.

“We’re pleased that ProShares provided knowledgeable investors opportunities to manage risk and pursue returns with leveraged and inverse strategies while also providing them with tax efficiency,” says Michael L. Sapir, chairman and chief executive of ProShare Advisors, ProShares’ investment adviser.
“While we manage ProShares to minimise capital gain distributions, a myriad of factors may impact the level of capital gains that tax regulations require to be distributed. These factors include, among other things, the path of the underlying index during the period and the size and the timing of asset flows. In contrast to last year when the funds were faced with a confluence of highly unusual circumstances with respect to such factors, this year presented circumstances that we view as more typical.”
Estimates of capital gain distributions are subject to change. Capital gain and income distribution amounts will vary from year to year.

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