Rydex Makes Fund of Hedge Funds Offering

Mar 26 2008 | 12:13pm ET

Rydex Investments has launched the Alternative Strategies Allocation Fund to bolster its portfolio of hedge fund strategies. The fund of hedge funds made its debut on March 7 and is currently managing some $3.7 million in assets.

The fund invests in a diversified portfolio of hedge funds and futures funds spanning the universe of absolute return, commodities, currency arbitrage, global macro, managed futures and real estate strategies, according to the firm. Investors in the new offering may also be exposed to exchange-traded notes, individual securities and money market instruments in volatile market conditions.

Rockville, Md.-based Rydex uses a quantitative investment methodology with input from current market data to allocate the fund’s assets across its underlying managers.

Rydex is headed by Mike Byrum, chief investment officer, Michael Dellapa, director of alternative investment strategies, Ryan Harder, senior portfolio manager, and Douglas Holmes, director of stock selection and asset allocation. Rydex was founded in 1993 and manages more than $16 billion in assets via more than 80 mutual funds and exchange-traded products.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...