Guggenheim Revamps L/S Interest Rate Fund

Published October 04, 2012, 5:59 p.m. EDT

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The Long Short Interest Rate Strategy Fund is getting a new facelift.

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To start, American Independence Financial Services has resigned as the $35 million fund’s sub-adviser, effective October 2, according to a filing.

In addition, the Board of Trustees of Rydex Series Funds has decided to change the name of the fund to the Flexible Strategies Fund and merge it into the $224 million Guggenheim Macro Opportunities Fund.

The reorganization will be submitted to a vote of the shareholders of the fund at a meeting to be held on Nov. 26.

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