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Rating:Is Guggenheim Combining its ETF Biz? Not Rated 1.0 Email Routing List Email & Route  Print Print
Wednesday, March 02, 2011

Is Guggenheim Combining its ETF Biz?

News summary by MFWire's editors

It looks like Guggenheim Partners LLC is looking to scale up its exchange-traded business by combining two entities that the firm acquired within the past two years. InvestmentNews reports that the Chicago-based financial services firm is "discussing" merging the Claymore business, which has since rebranded to Guggenheim Funds Investment Advisors, with the Rydex SGI business.

However, the pub, citing a source familiar with the situation, noted that Guggenheim has to either buy out the other investors in Security Benefit (see The MFWire 02/16/2010), of which Rydex is a part, or convince them to go along with the idea of combining the two entities.

Rydex currently manages some $8 billion in ETF assets and is the 19th largest purveyor of ETFs while Guggenheim's $3 billion in ETF assets is good for a 14th place rank, according to Morningstar.

Rydex also offers mutual funds.  

Edited by: Hung Tran


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