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Thursday, July 31, 2003|
Rydex Adds Marketer to Get Word Out to Advisors
Jeff Joseph has signed on with Rydex Capital Partners as a managing director focusing on business and product development. Before joining the Rockville, Maryland-based firm, Joseph was a managing director at Hedgeworld. Prior to that he was a registered investment advisor at Essex and Natomas Capital Management where he had focused on alternative investments and hedge funds.
Rydex's hiring of Joseph follows its entry into the registered fund-of-hedge-funds market early this year through an alliance with Standard & Poors'. Rydex uses the S&P Hedge Fund Index as the benchmark for its Rydex SPhinX Fund.
"The recent launch of Rydex SPhinX Fund underscores the firm's commitment to provide both traditional and alternative investment products to help meet the needs of financial advisors and their clients. I believe that there will be an increasing demand for alternative investments as advisors learn more about their benefits to investment portfolios, as well as the impact that these products have on their advisory practice," said Joseph in a statement.
Michael Byrum, president of Rydex Capital Partners said Joseph's knowledge of hedge fund investing and his experience as a financial intermediary were important considerations in his hiring. Rydex is marketing the SPhinX Fund to financial advisors and Joseph is expected to play a key role in that effort.
The asset management firm is also preparing a toolset that it believes will help educate financial advisors and their clients about alternative investments. Down the road, it expects to add a primer about hedge funds, their evolution, use and application to investment portfolios today.
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