Rydex Capital Partners LLC is launching a fund that will seek investment returns that correspond to 150% of the performance of S&P's Equity Long/Short Index.

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Rydex Capital Partners LLC is launching a fund that will seek investment returns that correspond to 150% of the performance of S&P's Equity Long/Short Index.

According to documents filed with the SEC, the proposed Rockville-based Rydex Capital Partners Sphinx Equity Long/Short Fund, a closed end vehicle, will invest its assets mainly in private investment funds and other investment vehicles that are managed by hedge fund managers whose funds are represented in the S&P Equity Long/Short Index and by investing in financial instruments, including options, swaps and structured notes that provide investment returns that are linked to the performance of the index.

The minimum initial investment in the fund is USD 25,000 and USD 5,000 for subsequent investments.