Products June 16, 2003

Hedge Fund of Funds Throws Open Its Doors

June 16, 2003 (PLANSPONSOR.com) - With its registration statement accepted by the US Securities and Exchange Commission (SEC), the Rydex SPhinX Fund hedge fund-of-funds is now open to investors.

Reported by

Fred Schneyer

According to an announcement by the Rockville, Maryland-based Rydex Capital Partners, the new hedge fund offering will provide exposure to 40 different hedge fund constituents for a minimum investment of $25,000.

By tracking the S&P Hedge Fund Index, Rydex SPhinX Fund will set out to provide equal-weighted exposure, rebalanced annually, to nine strategies considered representative of the hedge fund industry. Each of the 40 index constituents provides exposure to one of the nine strategies.

The fund’s developers said it should also be transparent to investors with the index construction methodology and names of the index constituents disclosed by Standard & Poor’s and the index values published daily.