Guggenheim Partners is planning to merge 11 asset management businesses into a single firm, Benzinga reports. As part of the combination, the RydexShares ETF brand will be scrapped. The merged firm will have $12 billion in ETF assets under management and more than $24 billion in mutual fund assets. Guggenheim will retain the Rydex brand for the Target Beta Funds, targeting active traders, adds Reuters. The funds now have $7 billion of assets.
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