Rydex Investments, the Rockville mutual fund firm that lets small investors bet against the stock market and employ leverage and doesn't care how many times they move in and out of the funds, finally announced its sale this morning. It was one of the worst kept secrets in finance that Rydex was on the block.

They haven't posted online links to the press release. The statement from the companies contained no price, which was rumored to be close to $1 billion. Rydex will stay in Rockville and keep its executives. The two companies were already close, with Kansas-based Security offering Rydex funds as part of its variable annuity menu. Combined, the companies will manage or administer $52 billion. I wrote about Rydex and its unusual, effective strategy a few days ago.

Update: Here is a link to the press release.