Rydex Investments, a Rockville, Md., asset manager, announced Monday that it and Jefferson National Life Insurance Co. of Dallas will launch a pair of variable trust products with hedge fund strategies.
The Rydex Absolute Return Strategies Fund and the Rydex Hedged Equity Fund will be available in Jefferson National's Monument Advisor, a variable annuity that charge a flat insurance fee of $20 a month.
The Rydex Absolute Return Strategies Fund seeks appreciation consistent with the risk and return characteristics of the hedge fund universe with less volatility than equity indexes. The Rydex Hedged Equity Fund seeks appreciation consistent with the risk and return characteristics of the long/short hedge fund universe with less volatility than equity indexes.
Monument Advisor will also offer the Rydex Core Equity Fund, a multicap fund that invests in value and growth stocks.
Jefferson National's Monument Advisor offers advisers access to 120 funds covering every style and category, including inverse funds, market neutral funds, hard assets, bond funds, and real estate investment trusts.
Rydex manages $14 billion of assets in 50 mutual funds, including nine exchange-traded products.
