| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Rydex Variable Trust U.S. Government Money Market Fund > News item |
Rydex SGI holders asked to approve agreement due to ownership change
By Susanna Moon
Chicago, Sept. 26 - Rydex SGI announced a meeting on Nov. 22 for shareholders of the Rydex Series Funds U.S. Government Money Market fund or the Rydex Variable Trust U.S. Government Money Market Fund in a 14A filing with the Securities and Exchange Commission.
Shareholders will be asked to approve the fund's new agreements, which will be substantially the same as existing agreements.
Last Wednesday, Security Investors, LLC, the funds' investment adviser that operates under the name Rydex Investments, an indirect wholly owned subsidiary of a company managed by a subsidiary of Guggenheim Capital, LLC, said Guggenheim Capital will acquire 100% of the investment adviser and affiliated businesses. The deal is expected to close in late 2011 or early 2012.
The transaction will not result in material changes to the day-to-day management and operations of the funds or any increase in fees.
For legal reasons, however, the change could be deemed to terminate the funds' investment advisory agreements with the investment adviser and any sub-advisory agreements unless shareholders approve the new agreements, the fund noted.
Shareholders will also vote on the election of nine members to the boards of trustees of Rydex Variable Trust, Rydex Series Funds and Rydex Dynamic Funds; and a "manager of managers" arrangement for each of the funds to permit the investment adviser to retain subadvisers or amend the terms of an existing subadvisory agreement without shareholder approval.
Holders must be of record as of the close of business on Oct. 3 to vote at the meeting.
Rydex SGI is now part of Guggenheim Investments and is based in New York.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.