Rydex Funds of Rockville, Md. has hired Mark Adams to fill a newly created position as marketing manager for the companys retail channel, a Rydex spokesperson said. Adams most recently was director of institutional marketing at FOLIOfn of Vienna, Va.
The company hired Adams to tap what it sees as a promising channel, said the spokesperson. Rydex has historically sold through registered investment advisors, but the firm now has 35 percent of its assets invested through retail channels, solely the result of word-of-mouth sales, the spokesperson said.