Rydex Global Advisors of Rockville, Md., the investment advisor to the 33 Rydex funds,

announced today that Ludwig Chincarini, Ph.D. has been named director of research.

Chincarini will be responsible for researching and developing products that use quantitative analysis, according to the firm. He will report to chief investment officer Michael Byrum.

"Rydex’s investment philosophy is to manage money in a disciplined, quantitative style. Quantitative methodologies combine the control and risk management of passive investing with the insights of active management," Byrum said.

Byrum noted that Chincarini is an "excellent match" with Rydex’s quantitative investment philosophy because of his academic and professional experience. His academic credentials include a bachelor’s degree in economics from The University of California at Berkeley and a doctorate in economics from the Massachusetts Institute of Technology.

Chincarini joins Rydex from FOLIOfn Investments, where he served as director of research since 1999. At FOLIOfn, he led the firm’s research team. Previously, Chincarini was a fixed income analyst at Bank for International Settlements in Basil, Switzerland and a research analyst at Schroders in New York.

Rydex also recently announced another addition, with Michael Carpenter becoming national sales manager for the broker/dealer channel. His hire is part of Rydex’s recent initiative to expand support for and win additional broker/dealer clients, according to the firm. Carpenter will report to Louis Foran, Rydex’s executive vice president of sales and marketing.

Carpenter was previously executive vice president and national sales manager for IDEX Mutual Funds, where he was responsible for the fund family’s national sales team and client relationship management with key brokerage firms. Prior to that, he served as national sales manager for both MFS Retirement Services and John Hancock Funds, both of Boston.

"Mike Carpenter’s profound knowledge of the broker/dealer channel bolsters the strength of our team and will enable Rydex to better meet the needs of its broker/dealer clients," A.P. "Skip" Viragh, president of Rydex, said in a statement.

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