The company launched four funds earlier this summer called the Rydex SGI Event Driven and Distressed Strategies Fund, the LongShort Interest Rate Strategy Fund, the LongShortEquity Fund and the Alternative Strategies Fund.
As a threshold matter, the interests of an equity investor would not necessarily be aligned with those of ACA or other noteholders, and holders of equity may also hold other long or short positions that offset or exceed their equity exposure.