Deals & People June 11, 2007

Rydex Investments Near Reaching Deal to Sell

Rydex Investments, manager of mutual and exchange-traded funds (ETFs), is near a deal to sell itself for about $800 million to $1 billion, according to TheStreet.com.

Reported by

Rebecca Moore

Individuals familiar with Rydex told TheStreet.com Rydex could be sold to E*Trade Financial or Invesco. Followers of the company say an announcement of the sell is expected soon.

However, a spokeswoman at Rydex declined to comment further to TheStreet.com. Additional details about the deal, including financial advisers involved, could not be learned, the news report said.

Rydex manages more than 80 mutual funds and ETFs and boasts some $16 billion in assets under management.