NEW YORK (HedgeWorld.com)–The alternative investments unit of mutual fund firm Rydex Global Advisers tapped former HedgeWorld managing director Jeff Joseph to help introduce Sphinx Fund and to work on product development.
Sphinx Fund is a hedge fund index vehicle recently approved by the Securities and Exchange Commission. “This product is the most effective and economical way of delivering absolute returns because it is on the lower end of the fee curve,” said Mr. Joseph. “It is very investor friendly,” Previous HedgeWorld Story.
Besides being a portfolio solution for investors, Sphinx is also a solution for registered investment advisers, who need to offer products other than widely available long-only funds, Mr. Joseph said. Having worked as a registered investment adviser himself, he sees Sphinx as a way RIAs can expand their business.
Before joining HedgeWorld, Mr. Joseph was co-managing director at Hedge Fund Research, and prior to that, he founded an advisory business, Natomas Capital Management, which later merged with Essex LLC.
Rydex Chief Investment Officer Michael Byrum emphasized Mr. Joseph’s dual experience in hedge funds and as an RIA. “His combination of perspectives can help put us in the shoes of our clients,” he said. Rydex is conducting forums for advisers, and Mr. Joseph is expected to work on this hedge fund-related educational effort.