Rydex/SGI closed and liquidated 12 of its 14 leveraged and inverse ETFs, effective Friday, as part of a consolidation of its 40 exchange-traded products, confirmed Rydex/SGI spokeswoman Cassandra Pean.
Ms. Pean could not say what percentage of the funds constituted institutional money.
The 12 liquidated exchange-traded funds accounted for $129 million in assets, according to a Rydex/SGI news release. Rydex/SGI has $7 billion in EFT assets under management.
“With our exchange-traded assets at an all-time high since we first entered the ETF scene in 2003, we are excited to intensify focus on this important business and concentrate resources on those products that have garnered the most investor interest,” Richard Goldman, CEO of Rydex/SGI, said in the news release. “This consolidation will enable us to position our exchange-traded product family for future growth opportunities, including new product development.”
