Rydex Funds of Rockville, Md. has launched a mid-cap index fund to round-out its large- and small-cap fund offerings, the company announced today.
The Medius Fund, was launched earlier this month and tracks the S&P MidCap 400 Index. The fund uses leveraged instruments like swap agreements, futures contracts and options to enhance its performance. Through the use of such instruments, the fund seeks to gain 150% exposure to its benchmark index.
The fund is being added to balance Rydexs small- and large-cap offerings, according to Rob Steele, head of marketing and product development for the firm. "We will continue to develop products that will provide investors with the diversification they need," Steele said.