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Recent Tax Changes
- The Internal Revenue Service has extended the deadline for making IRA and Coverdell ESA contributions for 2020 to May 17, 2021.
- The Internal Revenue Service has extended the deadline for mailing Forms 5498 and 5498-ESA to June 30, 2021.
This update is for informational purposes only and does not constitute accounting, legal, or tax advice. You should consult with your own accounting, legal, or tax advisors if you have any questions about how these updates affect you.
Guggenheim Announces Change to Automatic Conversion of C Class to A Class Shares From 10 Years to 8 Years
Effective March 1, 2021, C Class shares of each Guggenheim and Rydex mutual fund will automatically convert to an A Class share of the same fund on or about the 10th day of the month following the 8-year anniversary date of the purchase of the C Class shares. This conversion will be executed without any sales charge, fee, or other charge. After the conversion takes place, the shares will be subject to the expense of A Class shares. For additional information, shareholders should call Guggenheim Client Services at 800.820.0888 and Financial Professionals should call 800.345.7999.
Important Information Regarding C Class Trading Groups When C Class shares reach their 8-year anniversary of purchase, they will automatically convert to A Class shares in a new A Class account that is outside the existing trading group. Financial Professionals will be able to view the new A Class share accounts through their TradeRydex log-in. However, trades placed for a C Class trading group will not be executed in the new A Class accounts. Trades in C Class and A Class accounts can only be done separately. To establish a new A Class trading group, Financial Professionals must contact Guggenheim Client Services at 800.820.0888.
Share Splits for Select Rydex Mutual Funds
Throughout August, Guggenheim will conduct reverse share splits for a total of 10 Rydex mutual funds and 4 Variable Trust Funds. The share splits will occur in three phases. In phase one, shareholders of record on August 7, 2020 for 4 mutual funds will see reverse share splits. Phase two will include reverse share splits for six Rydex funds for shareholders of record on August 14, 2020. Phase three will include a reverse share split for 4 Rydex Variable Trust funds for shareholders of record on August 21, 2020. Share splits will apply to all classes of shares and will not impact the aggregate value of assets as a result of the share splits.
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Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks, charges, expenses, and the other information which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available), visit GuggenheimInvestments.com or call 800.820.0888.
Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC (“Guggenheim”), which includes Security Investors, LLC (“SI”), Guggenheim Funds Investment Advisors, LLC, (“GFIA”) and Guggenheim Partners Investment Management (“GPIM”), the investment advisers to the referenced funds. Securities offered through Guggenheim Funds Distributors, LLC, an affiliate of Guggenheim, SI, GFIA, and GPIM. © 2019 Guggenheim Investments. All rights reserved.