Rydex Fund hit by Refco collapse
The fallout continues. The Rydex Sphinx Fund faces liquidation due it its indirect exposure to the Refco brokerage mess. The fund tracks an index of hedge funds run by Standard & Poor's and PlusFunds Group. Hedge funds sponsored by PlusFunds relied on firms affiliated with Refco to hold futures and cash in accounts. Liquidation would only occur if shareholders do not vote to merge the fund into another Rydex fund, which seems much more likely.
> Here's a MarketWatch article.
Comments