Rydex is nixing its Long Short Equity Strategy Fund because of “unfavorable market conditions,” according to a Securities and Exchange Commission filing.

The fund will liquidate its assets on September 28 and will be closed to new investors on September 24. It began trading in June 2010 and returned 3.61% year-to-date through Aug. 24. It sports a total expense ratio of 190 basis points.

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