Combined Holdings, including Rydex|SGI, Form Investment Manager with $119 Billion in Total Assets, Broad Distribution Reach, and Industry-Leading Fixed Income, Equity and Alternatives Capabilities
NEW YORK – Guggenheim Partners, LLC, a privately held, global financial services firm, today announced that it will combine its asset management capabilities under the name Guggenheim Investments. The move will bring together several of Guggenheim’s investment management groups with Rydex|SGI, which will result in Guggenheim Investments having combined assets of approximately $119 billion*.
Guggenheim Partners has a rich legacy of providing highly specialized investment solutions to institutional investors, ultra high net worth individuals, investment advisors and family offices. The Firm intends to enhance its ability to serve these markets while also extending its reach, particularly among financial advisors. Guggenheim Investments will offer a broad spectrum of alternative and equity investment offerings alongside a leading credit research and fixed-income platform. These expanded capabilities will be delivered through a diverse array of solutions, including: separately managed accounts, open-ended mutual funds, offshore mutual funds, variable insurance trusts, unit investment trusts, closed-end funds and exchange traded funds (ETFs).
In addition, with the integration of Rydex|SGI, Guggenheim Investments is projected to be included in the top ten of largest ETF providers globally**, offering investors a suite of more than 100 ETFs and ETPs totaling over $20 billion in assets. The consolidated ETF lineup, including BulletShares, CurrencyShares®, and RydexShares pure style and equal weight products, will be marketed in the U.S. under the Guggenheim name.
“Over the years we have strategically grown our investment management capabilities both organically and through acquisition,” commented Todd Boehly, president of Guggenheim Partners and head of Guggenheim Investments, regarding the firm’s growth from $35.3 billion in assets under management to the projected $119 billion in total assets under management including the current expansion. “Every step of this process was guided by a desire to provide our clients with a wide array of innovative investment solutions to help achieve their financial goals. Guggenheim Investments is the next logical step in this disciplined and thoughtful approach to building our asset management business for the long term.”
Boehly will lead Guggenheim Investments along with Guggenheim’s Chief Investment Officer, Scott Minerd, Chief Administrative Officer, Don Cacciapaglia and Chief Operating Officer, Richard Goldman.
“The market of today and tomorrow is about delivering performance, managing risk, and exceeding client expectations. Guggenheim has risen to this challenge by employing talented professionals who consistently utilize rigorous and replicable investment processes,” commented Minerd. “From this foundation, our focus is to understand the unique needs of our clients and exceed their long-run investment objectives through intelligent and customized solutions.”
Guggenheim has long focused on risk-adjusted performance and capital preservation in serving its clients. Guggenheim Investments will continue this tradition and plans to expand the firm’s thought leadership program to provide clients with even greater access to market insights across the firm’s broad range of intellectual capital. In addition, Guggenheim Investments plans to supplement its educational offering to the financial advisor community via a knowledge-sharing program that leverages the insights of its institutional investment management platform.
“Today, we join together as Guggenheim Investments, a business rooted in the discipline of institutional money management with a history of rigorous risk management,” said Goldman. “While offering clients a more expansive suite of investment solutions as well as increased access to intellectual capital, we will continue to grow by staying true to Guggenheim’s client-focused approach and its focus on investment management excellence.”
Citibank is acting as financial advisor to Guggenheim Partners on this transaction and other related transactions.
For additional information about this announcement please contact Jeff Kelley at 312.977.4029 or Jeaneen Pisarra at 917.386.0387.
*Asset figure is based upon the best available information as of 6/30/2011 and consists of assets under management and serviced assets of the various asset managers comprising Guggenheim Investments. The total asset figure includes $8.6B of leverage for Assets Under Management and $0.8B of leverage for Serviced Assets.
**Figures are comprised of Guggenheim Funds Investment Advisors, LLC, Claymore Investment, Inc. and Security Investors, LLC. ETF ranking based on Blackrock Global ETF report as of 6/30/2011 and Guggenheim analysis.
About Guggenheim Partners
Guggenheim Partners, LLC is a privately held global financial services firm. The firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 25 offices in nine countries.
About Guggenheim Investments
Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC (“GP”). The following businesses comprise Guggenheim Investments: Security Investors, LLC (SI) doing business as Security Global InvestorsSM and Rydex Investments, Guggenheim Partners Asset Management, LLC, (“GPAM”), Guggenheim Investment Management, LLC, (“GIM”), Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, Inc., Guggenheim Aviation, GS GAMMA Advisors, LLC, Guggenheim Real Estate, LLC, Guggenheim Structured Real Estate, Guggenheim Partners Europe, Claymore Investments, Inc., Transparent Value Advisors, LLC and Guggenheim Partners India Management. This material is intended to inform you of services available through Guggenheim Investments’ affiliate businesses.
RydexShares and CurrencyShares are distributed by Rydex Distributors, LLC. BulletShares are distributed by Guggenheim Funds Distributors, Inc. Rydex Distributors, LLC and Guggenheim Funds Distributors are affiliated with Guggenheim Partners, LLC.
Read a fund’s prospectus and summary prospectus (if available) carefully before investing. It contains a fund’s investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. Obtain a RydexShares prospectus and summary prospectus (if available) at www.rydex-sgi.com or call 800.820.0888. Obtain a Guggenheim Funds prospectus and summary prospectus (if available) at www.guggenheimfunds.com or call 800.345.7999.