Fund Information

The Direxion Long/Short Global IPO Fund

Long/Short Global IPO fund in your investment strategies

Allows better diversification into a different asset class.
Provides a potential hedge for adverse market conditions.
It is part of a non-correlating asset class – IPOs tend to behave differently from the rest of the market during the first four years of their life cycle. (See the chart on page x for an illustration of this.)
"Down" market protection – IPOs tend to issue cheaply, which may help to provide a buffer against downside performance in the first 12 months prior to the initial earnings announcement.
Built in tactical management – Allows investors to seek returns throughout the three different phases of a new issue's life cycle.
Gain broad, global access to the IPO syndicates that are typically reserved only for institutional investors.
Provides a vehicle for investors to take advantage of the investment opportunities available in the IPO market.
The Fund's investment strategy may be resilient to market cycles.
Offers diversification into IPOs without having to make individual long-only "bets."
Serves as an investment tool for both active and buy and hold investors seeking timely and systematic IPO exposure.
The Fund offers an investment strategy that has little correlation with major benchmark indices.

The Direxion Long/
Short Global IPO Fund

Why IPOs?

Why a Long/Short IPO
Strategy?

Three Stages of the
IPO Lifecycle

Why Invest in the
Fund?

An investor should consider the investment objectives, risks, charges, and expenses of the Direxion Funds carefully before investing. The prospectus contains this and other information about Direxion Funds. To obtain a prospectus, please contact the Direxion Funds at 800.851.0511. The prospectus should be read carefully before investing.

You will be assessed a 1.0% redemption fee on investor class shares redeemed (through sales or exchanges) within 90 days of the date of purchase. The performance listed on the previous page does not reflect the 1.0% redemption fee. A contingent deferred sales charge ("CDSC") of 1.00% will be imposed on Class C Shares redeemed with one year of purchase. The CDSC is a percentage of the lower of the original purchase price or redemption proceeds.

The principal risks of investing in the Direxion Long Short Global IPO Fund are Adverse Market Conditions Risk, Counterparty Risk, Currency Exchange Rate Risk, Derivatives Risk, Emerging Markets Risk, Equity Securities Risk, Foreign Instrument Risk, High Porfolio Turnover, IPO Risk, Leverage Risk, Market Risk, Non-Diversification Risk, Options and Futures Contracts Risk, Security Selection Risk, Shorting Instruments Risk, Tracking Error Risk, Valuation Time Risk, and Volatile Markets Risk.

Any investments made in whole or in part by a party in reliance thereon are made at such party's sole risk. No guarantee of any kind is implied or possible where opinions as to past or future market conditions/events is provided. Past performance is not necessarily indicative of future results.

Distributor: Rafferty Capital Markets, LLC.

Date of First Use: March 1, 2010