New York-based Rafferty Asset Management, the advisor to the Potomac Funds, has filed to launch a fund that shorts stocks related to real estate values.

The fund will not invest in real estate property directly, but in real estate investment trusts mortgage companies, homebuilders, construction firms and building suppliers.

The operating expenses of the fund are 175 basis points. Minimum investments are $10,000 for both individual and retirement accounts.

Potomac has 15 in-house advised and subadvised funds. The fund firm also recently launched the High Yield Bear Fund, a fund that seeks to provide profit based on a downturn in the high yield market.  

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