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Rating:Rydex Gets SEC Exemptive Order For ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 12, 2006

Rydex Gets SEC Exemptive Order For ETFs

by: Armie Margaret Lee

Rydex Investments has recently obtained an exemptive order from the Securities and Exchange Commission allowing mutual funds to invest in Rydex's exchange traded funds in excess of the limits contained in sections 12(d)(1) of the Investment Company Act of 1940.

The order likewise applies to future products within the Rydex ETF Trust. In 2000, the Rockville, Maryland-based firm received the same order for its traditional open-end mutual funds.

Rydex has 9 ETFs with assets totaling over $2 billion.

"This exemption will greatly appeal to institutional investors and will continue to fuel the growth of our ETFs assets," said Timothy Meyer, business manager of exchange traded products at Rydex, in a statement. 

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