The Board of Trustees of Rydex Series Funds has approved a revision of the principal investment strategies for the Trust’s Managed Futures Strategy Fund, according to a Securities and Exchange filing.
Specifically, the fund will now invest some 20% of its portfolio assets to bet on price trends in the commodity, currency, equity, and fixed income markets, effective September 27. Additionally, Heiko Ebens, Director of Research, will be added as a portfolio manager of the fund along with Michael Dellapa, lead portfolio manager.
The fund's primary strategy is based on the Standard and Poor's Diversified Trends Indicator, a systematic rules-based trend-following strategy. The current strategy components consist of approximately 14 sectors with a total of 24 futures contracts, allocated 50% to financial futures and 50% to physical commodities. It may also invest up to 25% of its total assets in a wholly-owned and controlled Cayman Islands subsidiary.