Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Rydex Gets a Reason to Celebrate Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, April 19, 2007

Rydex Gets a Reason to Celebrate

News summary by MFWire's editors

Rydex' CurrencyShares Euro Trust has surpassed the $1 billion milestone. The ETF, which tracks the underlying price movements of the euro, was launched in December 2005 as the world's first currency-based ETF.


Rydex Investments today announced that assets in CurrencyShares Euro Trust (NYSE: FXE) have surpassed the $1 billion milestone. The ETF, which tracks the underlying price movements of the euro, launched in December 2005 as the world's first currency-based ETF. Rydex attributes the strong asset growth to the attractiveness of currency as an asset class and the convenience of the ETF delivery mechanism.

"The current economic climate and the decline of the U.S. dollar have generated substantial interest in currency as an asset class," said Tim Meyer, ETF business manager at Rydex. "Financial professionals recognize currency's potential to serve as a portfolio diversifier due to its low correlation to stocks and bonds, and they appreciate the ability to invest in currency via a liquid and accessible format."

Following the success of CurrencyShares Euro Trust, Rydex Investments introduced seven additional currency-based ETFs between June 2006 and February 2007: CurrencyShares(SM) Australian Dollar Trust (NYSE:FXA), CurrencyShares(SM) British Pound Sterling Trust (NYSE:FXB), CurrencyShares(SM) Canadian Dollar Trust (NYSE:FXC), CurrencyShares Japanese Yen Trust(SM) (NYSE:FXY), CurrencyShares(SM) Mexican Peso Trust (NYSE:FXM), CurrencyShares(SM) Swedish Krona Trust (NYSE:FXS) and CurrencyShares(SM) Swiss Franc Trust (NYSE:FXF). Each CurrencyShares ETF tracks the price movement of its underlying currency.

In addition to providing a convenient way to access the currency markets, CurrencyShares ETFs offer investors income distributions based on the overnight exchange rates for their underlying currencies. Of the eight currency-based ETFs, CurrencyShares Euro Trust continues to be the most popular among investors due to its broader country exposure to twelve European nations, as well as its longer performance and trading history.

The sponsor of the CurrencyShares Trusts is Rydex Specialized Products LLC, d/b/a Rydex Investments. The distributor of these exchange traded funds is Rydex Distributors, Inc, an affiliate of Rydex Investments and Rydex Specialized Products, LLC. M7 Ventures, LLC provides consultation and support to Rydex in connection to all CurrencyShares exchange-traded products. The Bank of New York (NYSE: BK) is the trustee of the Trust and JPMorgan Worldwide Securities Services (NYSE: JPM), is the depository for each ETF.

This information must be accompanied by a current CurrencyShares prospectus, which may be obtained directly by accessing the following links: CurrencyShares Australian Dollar (FXA); CurrencyShares British Pound Sterling (FXB); CurrencyShares Canadian Dollar (FXC); Currency Shares Euro (FXE); CurrencyShares Japanese Yen (FXY); CurrencyShares Mexican Peso (FXM); CurrencyShares Swedish Krona (FXS); CurrencyShares Swiss Franc (FXF). Investors should consider the investment objectives, risks, charges and expenses of each fund carefully before investing. Each fund's prospectus contains this and other information about the fund. Please read the prospectus carefully before you invest or send money. The CurrencyShares Trusts are not investment companies registered under the Investment Company act of 1940.

About Rydex

Rydex Investments continues to drive change in the financial industry by introducing investment products and services that challenge conventional thinking, empower investors and provide essential new options for uncertain market conditions. Rydex manages $15 billion in assets via more than 80 mutual funds and exchange traded products.

CurrencyShares are subject to risks similar to those of stocks and may not be suitable for all investors. Investors should consider the investment objectives, risks, charges and expenses of these products carefully before investing. The prospectus pertaining to each product contains this and other information about the product. Please read the applicable prospectus, including the Risk Factors section, carefully before you invest. Shares can be bought and sold through a broker and the selling shareholder may have to pay brokerage commissions in connection with the sale. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Shares may only be redeemed directly from the Trust by Authorized Participants via baskets (as defined in the prospectus). There can be no assurance that an active trading market for the shares will develop or be maintained. The value of the shares relates directly to the value of the currency held by the Trust. For a more complete discussion of risk factors applicable to the Trust, carefully read the prospectus.

CurrencyShares is a service mark of Rydex Investments and is protected by copyright 

Edited by: Erin Kello


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. WE PNW - Mentorship Program Presents: Keys to Job Success, June 23
  2. WE SoCal - Tariffs, Taxes, & Tapas, June 24
  3. WE Chicago - Pre-Morningstar Conference Happy Hour, June 24
  4. MFDF Director Discussion Series - Open Forum via Zoom, June 24
  5. Morningstar Investment Conference 2025, Jun 25-26
  6. IDC Director Segment Meeting - Compliance Oversight Peer Group, June 25
  7. WE South - TopGolf Showdown Tennessee, June 26
  8. WE South - TopGolf Showdown Mississippi, June 26
  9. WE South - TopGolf Showdown Florida, June 26
  10. WE South - TopGolf Showdown Georgia, June 26
  11. IMEA webinar - Global Branding: the Appeal and the Challenges, June 26
  12. MFDF In Focus webinar - Strategic Preparation for Director Turnover, June 26
  13. MFDF Director Discussion Series - Open Forum, July 9
  14. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  15. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  16. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  17. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  18. MFDF webinar - ETF Conversions, July 17
  19. MFDF Director Discussion Series - Open Forum (New York), July 22
  20. MFDF Ask Anything webinar - AI Edition, July 24
  21. MFDF webinar - Use of Derivatives by RICs, July 29
  22. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  23. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  24. ICI ETF Conference, Sep 8-10
  25. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  26. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use