ROCKVILLE, Md., May 11 /PRNewswire/ -- Rydex Investments today announced
that it is launching 10 specialized variable trust funds designed to give
investment advisors and investors greater flexibility in actively managing
their asset allocations within variable annuities. The new offerings include
six long style-box funds, two inverse style-box funds and leveraged and
inverse Dow 30 funds. The funds will be immediately available within the
Nationwide America's marketFLEX(SM) and Security Benefit AdvisorDesigns(R)
annuity products.
Six of the new funds are benchmarked to S&P/Barra style boxes and includes
Rydex Large-Cap Value, Rydex Large-Cap Growth, Rydex Mid-Cap Value, Rydex Mid-
Cap Growth, Rydex Small-Cap Value and Rydex Small-Cap Growth Funds. In
addition, Rydex Inverse Mid-Cap and Rydex Inverse Small-Cap seek to provide --
100% of the daily performance of the S&P MidCap 400 index and the Russell 2000
index, respectively.
Rydex is also introducing two new leveraged funds that track the Dow 30
Index. Rydex Long Dynamic Dow 30 Fund is structured to provide 200% of the
daily return of the Dow 30 Index while Rydex Inverse Dynamic Dow 30 Fund seeks
to return -200% of the daily return of the index. The two new funds make it
possible to actively manage exposure to the core industrial stocks that make
up the Dow 30 Index and to potentially profit from both upward and downward
movement in this popular index.
According to a March/April 2004 newsletter from the National Association
of Variable Annuities (NAVA), a study conducted by VARDS Greenwald Strategy
Service concluded that the premier struggle facing annuity insurers today is
the effect that low interest rates and declines in equity valuations have on
their balance sheets. "These new funds, as well as the other Rydex funds,
create investment options that attempt to resolve many of the issues facing
the variable annuity investor," states Jane Mancini, Rydex EVP sales and
marketing. "The introduction of three new inverse funds can give these
investors hedging options not found in most other annuity products."
About Rydex
Rydex Investments, the investment advisor to Rydex Funds, is a leader in
developing specialized investments that are essential components of a modern
portfolio. Through continuous innovation, Rydex anticipates the evolving
needs of investors. Rydex is committed to helping investors and investment
advisors maximize the value of our investing tools and strategies and to
providing an outstanding level of customer service in our industry. Rydex is
one of the nation's fastest growing mutual fund complexes, having attracted
almost $4 billion in 2003. Rydex manages $12 billion in assets via 45 mutual
funds, Rydex S&P Equal Weighted ETF and Rydex SPhinX Fund(i) -- a registered
fund of hedge funds. For more information, please call 800.258.4332 or visit
http://www.rydexfunds.com.
Prospectuses for any Rydex fund, including the new funds' objectives, can
be obtained at http://www.rydexfunds.com or by calling 800.258.4332. Investors
should consider the investment objectives, risks, charges and expenses of a
Fund carefully before investing. The funds prospectus contains this and other
information about the funds. Please read the prospectus carefully before you
invest or send money.
(i) "Standard & Poor's(R)", "S&P(R)", and "SPhinX" are trademarks of The
McGraw-Hill Companies, Inc. and have been licensed for use by Rydex
Capital Partners I, LLC and its affiliates. The Rydex SPhinX Fund is
not sponsored, endorsed, sold or promoted by Standard & Poor's and
Standard & Poor's makes no recommendation concerning the advisability
of investing in the Rydex SPhinX Fund.
Rydex Variable Trust Funds are available only as underlying investment
options in variable annuity contracts issued by life insurance
companies. Variable Annuity values and investment returns will
fluctuate based on the performance of the underlying portfolios. You
may have a gain or loss when money is withdrawn. Withdrawals may be
taxable and a 10% IRS penalty may apply to withdrawals taken before
age 59 1/2. Other charges specific to the annuity contract may apply.
Generally, variable annuities are considered to be long-term
investment vehicles.
"Dow Jones," "Dow Jones Industrial Average(SM)" and "DJIA(SM)" are
service marks of Dow Jones & Company, Inc. and have been licensed for
use for certain purposes by Rydex Investments and its affiliates.
Rydex Investment's Long Dynamic Dow 30 and Inverse Dynamic Dow 30
Funds are based on the Dow Jones Industrial Average(SM), are not
sponsored, endorsed, sold or promoted by Dow Jones, and Dow Jones
makes no representation regarding the advisability of investing in
such product(s).
There are no assurances that any Rydex Fund will achieve its strategy
or objective. Investment in the Funds may be affected by risks that
include those associated with sector concentration, international
investing and/or the Funds' possible use of investment techniques such
as leverage, derivatives and short sales of securities. Please see a
Rydex Funds' prospectus for more information.
Rydex Funds are distributed by Rydex Distributors, Inc.
SOURCE Rydex Investments
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Related links:
http://www.rydexfunds.com
CONTACT:
Melinda Clore of Rydex Investments,
+1-301-296-5394, or mclore@rydexfunds.com
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