Rydex changes ticker symbols for new Emerging Markets Bond Strategy

By Toni Weeks

San Luis Obispo, Calif., Aug. 2 - Rydex Series Funds announced the ticker symbols for its new emerging markets fund, the Emerging Markets Bond Strategy Fund.

According to an N-1A filing with the Securities and Exchange Commission, the fund will offer A-class and C-class shares. Ticker symbols are "RYIEX" and "RYFTX," respectively. The ticker symbols were previously given as "GIEPX" and "GIERX," respectively, in an Aug. 2 SEC filing.

As previously noted, the fund will seek to provide investment results that correlate, before fees and expenses, to the performance of the emerging markets bond market. Under normal circumstances, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and financial instruments that, in combination, have economic characteristics similar to the emerging markets bond market.

To meet its investment objective, the fund will invest primarily in credit default swaps, U.S. Treasury futures and bonds so that its portfolio will have the characteristics of emerging markets bonds without having to invest directly in emerging markets bonds. The fund also expects to invest in exchange-traded funds, swap agreements, derivatives and other financial instruments with economic characteristics comparable to that of the emerging markets bond markets.

The fund may buy debt securities to collateralize its derivative investments for liquidity purposes or to enhance yield. It may also invest without limitation in sovereign debt securities denominated in dollars or foreign currencies.

Michael P. Byrum and Ryan A. Harder are the portfolio managers.

Shareholder fees consist of a 4.75% sales load for A-class shares and 1% maximum deferred sales load for C-class shares.

Management fees of 0.75% are included in the total annual fund operating expenses of 1.61% for A-class shares and 2.36% for C-class shares.

Rockville, Md.-based Security Investors, LLC, which operates under the name Guggenheim Investments, is the investment adviser to the fund.

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