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Rating:New Funds Seek to Mimic Hedges Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 03, 2005

New Funds Seek to Mimic Hedges

by: Theresa Sim

Rydex Funds is planning to launch mutual funds that will emulate hedge fund strategies, according to a preliminary prospectus.

The three-fund Structured Beta Funds series are based on a "proprietary quantitative model that uses a style analysis of appropriate hedge fund index returns. This style analysis compares the returns of the appropriate hedge fund index returns with the returns of various directional and non-directional positions," wrote Rydex officials in the prospectus.

The Beta in the funds' name refers to the fact that Rydex believes hedge funds' performance is driven by "well recognized structural investment strategies or Beta."

The Structured Market Neutral Fund, Structured Multi-Strategy Fund and Structured Long/Short Fund will invest will invest in domestic and international stocks, futures, options, swaps and U.S. Government securities. The Multi-Strategy Fund will also invest in corporate debt and high yield securities.

While Rydex has not provided the operating expenses of the funds, all come with hefty minimum investment requirements: $25,000 self-directed accounts, including retirement accounts, and $15,000 for advisor-managed accounts.  

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