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Wednesday, January 05, 2011

Rydex SGI Merges Some Units

Reported by Armie Margaret Lee

Rydex SGI [see profile] has merged its four investment advisory arms into one. The company is also moving to its new headquarters later month [SEC filing] and during this quarter, it plans consolidate to a single mutual fund record-keeping platform that will support investments across all Rydex|SGI mutual funds [ see announcement on the company Web site]

Effective January 3, Rydex Advisors, Rydex Advisors II and Security Global Investors merged into Security Investors LLC, which operates under the name Rydex Investments.

The decision to reduce the number of investment advisory entities is aimed at "creating more operational efficiencies," Rydex SGI spokeswoman Jeaneen Pisarra told The MFWire.com.

The change has no impact on staffing and the investment philosophies of the mutual funds remain unchanged.

The Rockville, Maryland-based Rydex SGI is also preparing to move its headquarters from 9601 Blackwell Road, Suite 500 to Four Irvington Centre, 805 King Farm Boulevard, Suite 600. The change will take place "on or about January 17," according to the SEC filing.

At the end of October, the company relocted its New York office from 330 Madison Avenue to 40 East 52nd Street, according to Pisarra. 

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