At a time when holiday festivities should be the center of attention for most, the staff at one fund company, instead of celebrating, is mourning the loss of its leader. On Dec. 11, the founder of Rydex Funds, A.P. "Skip" Viragh, died of pancreatic cancer at his home in Sarasota, Fla. He was 62.
Before Rydex, Viragh held a series of sales-related positions, becoming director of institutional sales and marketing at Maryland-based Rushmore Funds (now FBR Mutual Funds) in 1985. At Rushmore, Viragh was responsible for the development of the Rushmore Nova Fund, which later became the foundation for the Rydex Funds.