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Rating:Is Rydex About to Change Hands Again? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 13, 2009

Is Rydex About to Change Hands Again?

by: Neil Anderson, Managing Editor

Deal buzz about Rydex just made it into the press again. On Wednesday IndexUniverse's Jim Wiandt reported that rumors about Claymore buying the leveraged index managers from Security Benefit "have been flying around the industry over the last week or so." According to IU, Guggenheim may provide private equity support to the deal.

Spokespeople for Claymore, Rydex and Security Benefit all could not immediately be reached for comment by The MFWire.

The MFWire first reported on the Rydex sale rumors in January as former CEO Carl Verboncoeur moved on as part of a restructuring (see MFWire, 1/14/2009). At the same time, Security Benefit unveiled a plan to combine its own Security Global Investors arm (and brand) with that of Rydex, an odd move if the Topeka, Kansas-based insurer is prepping Rydex for a sale.

At the time, insiders pointed to PowerShares owner Invesco and private equity firms as possible Rydex bidders. 

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