MUFG Investor Services buying Rydex Fund Services

MUFG Investor Services is buying the Guggenheim Investments 1940-Act mutual fund administration business, Rydex Fund Services.  The transaction is expected to close in the fourth quarter of this year, subject to the customary regulatory approvals and closing conditions.

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 adviser.

Junichi Okamoto, group head of Trust Assets Business Group, Deputy President, Mitsubishi UFJ Trust and Banking Corporation said: “The acquisition will strengthen our position as an industry-leading administrator and is an important part of our commitment to supporting the growth of new clients and extending our services to existing clients. This deal will add capabilities which will allow us to respond more dynamically to our clients’ changing needs, enabling them to fully realise new market opportunities and support their growth ambitions.”