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MUFG Investor Services completes acquisition of Rydex Fund Services from Guggenheim Investments

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New York, 4 October 2016 – MUFG Investor Services, the global asset servicing group of Mitsubishi UFJ Financial Group, has completed the acquisition of Rydex Fund Services, a 1940-Act mutual fund administration business, from Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners.

This deal complements MUFG Investor Services’ full service offering for alternative investment managers, adding regulated 1940 Act mutual fund and exchange traded fund services expertise to a comprehensive service proposition, which spans single manager, fund of hedge fund, private equity, real estate and infrastructure funds, pension funds and traditional asset managers.

The acquisition adds $52 billion assets under administration (AuA) and brings the total AuA for MUFG Investor Services’ to $422 billion. The assets serviced by Rydex Fund Services primarily consist of Guggenheim and Rydex branded mutual funds, exchange-traded products and closed-end funds, for which Guggenheim Investments will continue to serve as investment advisor.

Junichi Okamoto, Group Head of Trust Assets Business Group, Deputy President, Mitsubishi UFJ Trust and Banking Corporation said: “The acquisition of Rydex Fund Services is a key component of our strategic expansion and enables us to broaden our support of new and existing clients as they embark on new market opportunities. The deal significantly expands our capabilities and reinforces our position as one of the leading global fund administrators.”

Michael Rucci, Chief Executive Officer, MUFG Fund Services (USA), said: “Rydex Fund Services is a valuable addition to our business, particularly at a time when demand for liquid alternative strategies and their importance in portfolio construction are growing at a fast pace. Through this acquisition, we are perfectly placed to offer new and innovative solutions and ensure our clients take advantage of the best market opportunities.”

Nikolaos Bonos, Head of Rydex Fund Services, commented: “This partnership is a significant step forward for Rydex Fund Services, as it will create greater opportunities for our employees and clients, and enable us to continue the growth of the business in the future. MUFG Investors Services’ strategic focus on asset servicing and commitment to invest in the client franchise make it an ideal partner for us.”

MUFG Investor Services has acquired all of Rydex Fund Services’ business and intends to provide a seamless transition for its employees and clients.

About MUFG Investor Services

MUFG Investor Services provides asset servicing solutions to clients globally. Leveraging the financial and intellectual capital of MUFG – one of the largest banks in the world with $2.4 trillion in assets – we provide clients access to a range of leading solutions from fund administration, middle-office outsourcing, custody, foreign exchange, fund of hedge fund financing, trustee services and depositary to securities lending and other banking services.

MUFG has 90 years of custody experience, 350 years of banking history and has run a global securities lending program for 20 years. MUFG currently provides administration services for over 2,400 funds across all investment strategies, asset types and fund structures.

About Guggenheim Investments

Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with $2021 billion in total assets across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our 275+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification and attractive long-term results.

1 Guggenheim Investments total asset figure is as of 06.30.2016. The assets include leverage of $11.4bn for assets under management and $0.5bn for assets for which we provide administrative services. Guggenheim Investments represents the following affiliated investment management businesses: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, Transparent Value Advisors, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited, and Guggenheim Partners India Management. The transaction will not affect Guggenheim Investments’ total assets.

About Rydex Fund Services

Rydex Fund Services, LLC (RFS), established in 1993, is the fund administration, fund accounting, and transfer agency services platform for the Guggenheim Investments’ intermediary product line. RFS services over 230 Guggenheim products, including open-end mutual funds, variable insurance trust products, exchange-traded products, and closed-end funds.

Following the completion of the acquisition, the legal name of Rydex Fund Services, LLC was changed to MUFG Investor Services (US) LLC.

Media contacts

MUFG Investor Services
Four Broadgate
Anthony Cornwell / Monika Witkowska / Danae Quek
Telephone: +44 0 203 697 4200
Email: [email protected]

Guggenheim Investments
Ivy McLemore
Telephone: +1 212 518 9859
Email: [email protected]