Two New Mutual Funds Using Hedge Fund Strategies

Yesterday, Rydex Investments announced the launch of two mutual funds that seek to offer hedge fund-like strategies and returns. The new funds -- Rydex Hedged Equity Fund and Rydex Absolute Return Strategies Fund -- are designed to give investors access to popular hedge fund-like strategies with the liquidity, transparency and lower-cost benefits of mutual fund investing. Rydex Hedged Equity Fund (RYSTX) seeks to provide capital appreciation consistent with the risks and returns of long/short hedge funds, and Rydex Absolute Return Strategy Fund (RYMSX) seeks returns similar to those produced by the hedge fund universe.

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(May '04-Jun '05)