Rydex Series Funds
is launching the Rydex Internet
and Utilities Funds
, bringing to 17 the number of no-load sector funds in its portfolio.
The Internet Fund offers equal exposure to the following six sub-sectors: content, commerce, equipment, ISP, software, and support. Each sub-sector has been developed as its own cap-weighted index. All six indices are then weighted equally and combined into
The makeup of each sub-sector includes:
Content - Internet portals and information web pages.
Commerce - Companies with web sites dedicated to selling a
product or service.
Internet Service Providers (ISP) - Companies that provide
interactive communications and services through either a
dial-up or direct connection.
Support - Companies that have developed niche markets by
assisting other Internet businesses.
Software - Companies that develop and maintain software
products that support the Internet, including programming,
language, web design, e-mail, databases, information
management, and e-commerce.
The Utilities Fund will offer exposure to telephone, electric utility, and gas distribution companies via a modified capitalization approach. The fund weighting is 75% natural gas and electric companies and 25% telephone companies.
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