The Claymore ETFs were rebranded under the Guggenheim name after the acquisition.
Guggenheim manages ETFs, separately managed accounts, mutual funds and closed-end funds.
The company announced the change via Webcast to its 1,200 investment management employees on Tuesday, Reuters reported.
The Rydex brand of ETFs had just over $8 billion in assets, while the Guggenheim ETFs have gathered about $3.12 billion in ETF assets, IndexUniverse reported.
“Over the years we have strategically grown our investment management capabilities both organically and through acquisition,” said Todd Boehly, president of Guggenheim Partners and head of Guggenheim Investments, in a press release. “Every step of this process was guided by a desire to provide our clients with a wide array of innovative investment solutions to help achieve their financial goals.”
Read the disclaimer; Tom Lydon is a board member of the Funds for Rydex|SGI.