Security Benefit Buys Rydex

Mutual and exchange-traded fund management firm Rydex Investments has agreed to sell itself to retirement investment company Security Benefit.

Closely-held Rydex, based in Rockville, Md., manages about $15 billion in assets. Combining with Topeka, Kan.-based Security Benefit is expected to represent roughly $35 billion in assets under management and $52 billion of assets under administration at closing. The combined company will have about 1,000 employees.

Terms of the offering where not disclosed, and a Rydex spokeswoman declined to comment on deal terms. ...