Rydex Investments has selected the Bank of New York as trustee for six Rydex exchange-traded trust funds.
This suite of funds, Rydex says, will complement its Euro Currency Trust.
The funds, which will be traded on the New York Stock Exchange, will include theCurrencyShares Australian Dollar Trust, the CurrencyShares British Pound Sterling Trust, the CurrencyShares Canadian Dollar Trust, the CurrencyShares Mexican Peso Trust, the CurrencyShares Swedish Krona Trust and the CurrencyShares Swiss Franc Trust.
The Bank of New York’s Global Fund Services group will handle the day-to-day management of the trusts, including calculating the trusts’ net asset value, converting each currency to dollars as needed, processing orders to create trust shares, and working with the trusts’ custodian.