Direxion Funds, a provider of exchange traded products, mutual funds, and technology announced last week the appointment of Ed Egilinsky to managing director, and head of alternative investments.

The firm’s current venture into the alternative space includes honing in a variety of alternative strategies.

“The products we have in the pipeline in addition to our leveraged and index strategies focus on market neutral funds and ETFs…we’re incorporating these for our asset allocating, “buy and hold” mutual funds because provide diversification from stocks and bonds, as well as low correlation,” said Egilinsky.

Egilinsky is well-versed with the distribution of alternative strategies and is well-positioned to “building out alternative investment products and platforms,” according to Dan O’Neill, president of Direxion. Egilinsky will specifically be appointed with driving the firm’s product development initiatives, internal and external messaging, training and support of product delivery.

Egilinsky has been in the alternatives business for almost 20 years; specializing in channeling alternative strategies to more broad-based vehicles, such as mutual funds, family offices, registered investment advisors, national/regional investment firms, and independent advisors.

As managing director and Head of alternative strategies for like-minded mutual fund provider, Rydex Investments, Egilinksky helped launch the first open-end mutual fund to give retail investors access to managed futures.

Most recently, Egilinsky served as managing director for Price Asset Management, where he helped lead product distribution, sales and new product initiatives.

“My ultimate goal is to have Direxion be the premium investor solution among institutional and retail clients,” said Egilinsky. “Current institutional clients include hedge funds, and institutions but the key effort to get “buy and hold” clients more immersed with alternative strategies, even those that are not typical of the hedge fund repertoire, Egilinsky told Markets Media.

“Hedge funds are just one type of approach in providing alternative investment exposure to clients,” noted Egilinsky. “We want to introduce our clients to REITs (real estate investment trusts), commodities, CTAs (commodity trading advisors), in addition to long/short strategies and absolute return strategies.”