Here you can find answers to many of the questions you may have regarding Rydex SGI. Topics are divided into lists relating to current shareholders, prospective shareholders, and retirement planning.
Rydex SGI offers its innovative funds in several different share classes. Multiple classes of shares represent ownership in the same pool of assets - the Fund. Each class within the Fund charges different fees in an effort to provide a variety of fee structures that fit varying needs for Registered Investment Advisors, Broker/Dealers and individual investors. The different fees charged by each Class account for the differences in daily NAVs.
The following three share classes apply to these funds: All Cap Value, Alpha Opportunity, Large Cap Core, Global, High Yield, Large-Cap Value, Mid-Cap Growth, Mid-Cap Value, Large Cap Concentrated Growth, Small Cap Growth, Small Cap Value, U.S. Intermediate Bond.
Class A Shares
Class A shares are subject to a sales charge at the time of purchase. An order for Class A shares will be priced at a Fund’s NAV next calculated after the order is accepted by the Funds or an authorized financial intermediary, plus the sales charge set forth below. The NAV, plus the sales charge, is the “offering price.” A Fund’s NAV is generally calculated as of the close of trading on every day the New York Stock Exchange (NYSE) is open. An order for Class A shares is priced at the NAV next calculated after the order is accepted by the Fund, plus the sales charge.
Sales Charge
Amount of Order (Offering Price)
As a Percentage
of Offering Price
As a Percentage of
Net Amount Invested
Less than $50,000
5.75%
6.10%
$50,000 to $99,999
4.75%
4.99%
$100,000 to $249,999
3.75%
3.90%
$250,000 to $499,999
2.75%
2.83%
$500,000 to $999,999
2.00%
2.04%
$1,000,000 or more*
None
None
*Purchases of $1,000,000 or more are not subject to a sales charge at the time of purchase, but are subject to a deferred sales charge of 1.00% if redeemed within one year following purchase. The deferred sales charge is a percentage of the lesser of the NAV of the shares redeemed or the net cost of such shares. Shares that are not subject to a deferred sales charge are redeemed first.
Class A Shares - High Yield Fund & U.S. Intermediate Bond Fund
Class A shares are subject to a sales charge of 4.75% at the time of purchase. An order for Class A shares will be priced at a Fund’s net asset value per share (NAV) next calculated after the order is received in good order and accepted by the Fund or an authorized financial intermediary, plus the sales charge set forth below. The NAV plus the sales charge is the “offering price.” A Fund’s NAV is generally calculated as of the close of trading on each day the New York Stock Exchange (“NYSE”) is open (usually 4:00 p.m. Eastern Time).
U.S. Intermediate Bond and High Yield Funds
Sales Charge
Amount of Order (Offering Price)
As a Percentage
of Offering Price
As a Percentage of
Net Amount Invested
Less than $50,000
4.75%
4.99%
$50,000 to $99,999
3.75%
3.90%
$100,000 to $249,999
2.75%
2.83%
$250,000 to $999,999
1.75%
1.78%
$1,000,000 or more*
None
None
*Purchases of $1,000,000 or more are not subject to a sales charge at the time of purchase, but are subject to a deferred sales charge of 1.00% if redeemed within one year following purchase. The deferred sales charge is a percentage of the lesser of the NAV of the shares redeemed or the net cost of such shares. Shares that are not subject to a deferred sales charge are redeemed first.
Class B Shares*
Class B shares are not subject to a sales charge at the time of purchase. An order for Class B shares will be priced at a Fund’s NAV next calculated after the order is accepted by the Fund or an authorized financial intermediary. A Fund’s NAV is generally calculated as of the close of trading on every day the NYSE is open.
Class B shares are subject to a deferred sales charge if redeemed within 5 years from the date of purchase. The deferred sales charge is a percentage of the NAV of the shares at the time they are redeemed or the original purchase price, whichever is less. Shares that are not subject to the deferred sales charge are redeemed first. Then, shares held the longest will be the first to be redeemed.
The amount of the deferred sales charge is based upon the number of years since the shares were purchased, as follows:
Number of Years Since Purchase
Deferred
Sales Charge
1
5%
2
4%
3
3%
4
3%
5
2%
6 and more
0%
The Distributor will waive the deferred sales charge under certain circumstances. See the Prospectus for details.
*Class B-Shares were closed to new purchases from existing and/or new shareholders effective January 4, 2010.
Class C Shares
Class C shares are not subject to a sales charge at the time of purchase. An order for Class C shares will be priced at a Fund’s NAV next calculated after the order is accepted by the Fund or an authorized financial intermediary. A Fund’s NAV is generally calculated as of the close of trading on every day the NYSE is open.
Class C shares are subject to a deferred sales charge of 1.00% if redeemed within one year from the date of purchase. The deferred sales charge is a percentage of the NAV of the shares at the time they are redeemed or the original purchase price, whichever is less. Shares that are not subject to the deferred sales charge are redeemed first. Then, shares held the longest will be the first to be redeemed. The Distributor will waive the deferred sales charge under certain circumstances. See the Prospectus for details.
The following five share classes apply to ALL other funds.
Investor Class:
This class offers shares with a fee structure that does not include a
12b-1 or service fee. It was designed for both Registered Investment Advisors
and individual investors.
Advisor Class:
This class offers shares with a fee structure that includes both .25%
12b-1 and .25% service fees. Registered Investment Advisors may select
this and collect up to a .25% service fee from the Fund.
H Class:
This class offers shares with a fee structure that includes a .25% 12b-1
fee. This class is a hybrid (hence the 'H' Class) of the Investor class.
It was designed for both financial professionals and individual investors.
C Class:
All Funds within Rydex SGI Series Funds, including The U.S. Government
Money Market Fund, offer this C Class. This Class is offered with a deferred
sales charge of one percent (CDSC) that applies for the first year following
purchase. Financial intermediaries (RIAs and Brokers) can receive, up
front, a 1% commission and an annualized 1% trail that begins accruing
in the thirteenth month. This fee option is commonly referred to as "Traditional
C Shares." However, financial intermediaries have the option to enter
into arrangements with Rydex Distributors, Inc., to forgo receipt of the
initial 1% sales commission, whereby the Fund will waive any otherwise
applicable deferred sales charge and the annualized 1% trailer begins
accruing immediately after purchase. This fee option is commonly referred
to as "Level Load C Shares".
A Class:
Class A shares are mutual fund shares that carry a front-end load (sales
charge). Unlike our current H, Investor and Advisor Class of shares, Class
A shares are front-end load funds. Like our C Class, A shares are a loaded
class of shares. Class A shares typically have lower total expense than
C shares but carry a front-end load (sales charge) that is subtracted
from the clients purchase. Class A shares are typically more economical
for large purchases or if the client intends to hold a position at Rydex SGI
for a long period of time. You may be eligible for a reduced sales charge. The sales charge varies depending on the amount of your purchase. The currenct sales charge rates are as follows:
Amount of Investment (Offering Price)
Sales Charge as % of Offering Price
Sales Charge as % of Net Amount Invested
Less than $100,000
4.75%
4.99%
$100,000 but less than $250,000
3.75%
3.90%
$250,000 but less than $500,00
2.75%
2.83%
$500,000 but less than $1,000,000
1.60%
1.63%
$1,000,000 or greater
*
*
*For investments of $1 million or more, A-Class Shares are sold at NAV, without any upfront sales charge. However, if you sell your shares within 18 months of purchase, you will normally have to pay a 1% CDSC based on your initial purchase price or current market value, whichever is lower. The CDSC is used to reimburse the Distributor for paying your financial intermediary a sales commission up to a total of 1.00% of the purchase price of your investment in connection with your initial purchase. For more information about whether your financial intermediary has entered into such an agreement, contact your financial intermediary directly.
Please note: Rydex SGI offers a waiver of CDSC on
Traditional C Shares equaling up to 10% of the initial value of each purchase
into the account during any rolling 12 month period.
For more complete information regarding the funds click here for a prospectus. Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. The fund’s prospectus contains this and other information about the fund. Read the prospectus carefully before you invest or send money.
The funds are distributed by Rydex Distributors, Inc. (RDI). Security Global InvestorsSM is the investment advisory arm of Security Benefit Corporation (Security Benefit). Security Global Investors consists of Security Global Investors, LLC, Security Investors, LLC and Rydex Investments. Rydex Investments is the primary business name for PADCO Advisors, Inc. and PADCO Advisors II, Inc. SGI and RDI are affiliates and are subsidiaries of Security Benefit.
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