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Guggenheim Investors Flee Amid Probe

9 Oct

Summary

Investors withdrew $2.4 billion in September from Guggenheim's top funds.
The redemptions followed reports of a federal probe into CEO Mark Walter.
$1.8 billion left Guggenheim's Total Return Bond Fund.

In September, investors withdrew a substantial $2.4 billion from Guggenheim Partners' four largest mutual funds. This significant outflow followed reports indicating that federal authorities are investigating the business dealings of Chief Executive Officer Mark Walter.

The redemptions specifically included $1.8 billion from the Guggenheim Total Return Bond Fund, which is the firm's largest fund. The investigation into Walter's business practices appears to have triggered investor concern and a subsequent rush to pull assets from the company's offerings.

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