ProShares Trust II registers three Managed Futures Strategies ETFs

By Toni Weeks

San Diego, Nov. 29 - ProShares Trust II registered three series of Managed Futures Strategies exchange-traded funds in an S-1 filing with the Securities and Exchange Commission.

The series are the ProShares Managed Futures Strategy, the ProShares Commodity Managed Futures Strategy and the ProShares Financial Managed Futures Strategy. Their benchmarks are the S&P Dynamic Futures index, the S&P Dynamic Commodities Futures index and the S&P Dynamic Financial Futures index, respectively.

The shares are expected to be offered in the fourth quarter of 2011 and will trade on the New York Stock Exchange Arca.

Each fund will continuously offer and redeem its shares in blocks of 50,000 shares. The initial price is $40 per share. Expenses of $0.39 per share, or 0.97%, that are incurred in connection with the initial offering of shares will be paid by the trust.

Although each benchmark is based on an underlying commodity, currency or a financial such as U.S. Treasury securities, the funds will not invest directly in those types of securities. Instead, the funds will invest in financial instruments whose value is derived from the value of an underlying asset, rate or benchmark, including futures contracts and swap agreements.

Ticker symbols have yet to be determined.

The initial registration was for a token $1 million of units for each fund.

Bethesda, Md.-based ProShare Capital Management LLC will serve as the trust's sponsor, commodity pool operator and commodity trading adviser.

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