MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, March 2, 2011 Is Guggenheim Combining its ETF Biz? 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. Printed from: MFWire.com/story.asp?s=36161 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |