Guggenheim Investments Hires Brian Smedley as Head of Macrconomic and Investment Research

NEW YORK Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, announced today that Brian Smedley has joined the firm as Managing Director and Head of Macroeconomic and Investment Research. Guggenheim's Macroeconomic and Investment Research is a pillar of our investment process. I am excited to have Brian join Guggenheim to work closely with me to develop and communicate the overall macroeconomic outlook of the Firm for the benefit of our investment teams and our clients, said Scott Minerd, Global Chief Investment Officer and Chairman of Guggenheim Investments. In his role, Brian will oversee an exceptional research team that provides our investment professionals with economic and policy analyses and assessments of their potential impacts on asset prices.

Added Mr. Smedley, Guggenheim has established itself in the vanguard of macroeconomic research and thought leadership in the investment management industry. I look forward to working with Scott Minerd and the entire team of economists and analysts to build on that exceptional track record and to deliver relevant ideas and timely insights to our investment professionals and our clients.

Mr. Smedley joins Guggenheim Investments from Bank of America Merrill Lynch, where he most recently served as Director of U.S. Rates Research. Prior to that, he spent five years at the Federal Reserve Bank of New York, including Senior Trader/Analyst for the Buy-Side Analysis and Relationship Management Staff and Foreign Exchange and Investments Staff, and Senior Economic Analyst for the Emerging Markets and International Affairs Group.

Mr. Smedley graduated Summa cum Laude with a B.S. in Finance and Economics from Utah State University and an MA in International Development Studies from the Elliot School of International Affairs at George Washington University.

About Guggenheim Partners Guggenheim Partners is a global investment and advisory firm with more than $240 billion* in assets under management. Across our three primary businesses of investment management, investment banking, and insurance services, we have a track record of delivering results through innovative solutions. With 2,500 professionals based in more than 25 offices around the world, our commitment is to advance the strategic interests of our clients and to deliver long-term results with excellence and integrity. We invite you to learn more about our expertise and values by following us on Twitter at twitter.com/guggenheimptnrs.

*Assets under management are as of 9.30.2015 and include consulting services for clients whose assets are valued at approximately $48bn. Investing involves risk, including the possible loss of principal. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, Transparent Value Advisors, LLC, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and Guggenheim Partners India Management.

Media Contact Gerard Carney

Guggenheim Partners

212.518.9064 office

310.871.9208 mobile

Gerard.Carney@GuggenheimPartners.com

Media Contacts TODO Sitrick and Company

Thomas S. Mulligan

310.367.6567

tmulligan@sitrick.com

Terry Fahn

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