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Rating:Rydex/SGI Shrinks its ETF Lineup Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 26, 2010

Rydex/SGI Shrinks its ETF Lineup

Reported by Armie Margaret Lee

Rydex/SGI plans to shutter 12 of its 14 leveraged and inverse ETFs next month. The funds headed for liquidation have $129 million of assets, representing less than two percent of Rydex/SGI's total $7 billion in ETF assets.

The decision comes as Rydex/SGI is in the process of being acquired by Guggenheim Partners as part of a broader deal.

In a news release Friday, Rydex/SGI CEO Richard Goldman said the move would focus resources "on those products that have garnered the most investor interest."

"This consolidation will enable us to position our exchange traded product family for future growth opportunities, including new product development," he added.

Rydex/SGI's rivals in the leveraged and inverse ETF space include ProShares and Direxion. 

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