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Rydex Funds plans to continue visiting more cities to tout its nascent hedge fund of fund offering. The asset manager recently wrapped up a series of educational seminars for registered investment advisors in San Francisco, Chicago and New York (FMA, 6/30). Rydex may introduce the Rydex SPhinX Fund, an alternative investments portfolio that is based on the Standard & Poor's hedge fund index, to advisors in Boston, Denver and Southern California. Chuck Tennes, senior v.p. and director of portfolio at Rydex, said that the firm wants to rid advisors of the notion that hedge funds are all about risk, when in fact they help in overall risk management in clients' portfolios. The seminars complement Rydex's goal to strengthen the level of service it provides to RIAs, he said. Tennes added that most of the RIAs consist of "mom and pop" shops who need all the support they can get from asset managers. Fund complexes have also long realized that this widely dispersed group remains a lucrative target.