Direxion Spectrum Funds Deliver Strong Performance BOSTON, MA--(Marketwire - 07/15/09) - Direxion Funds, a pioneer in providing
alternative investment strategies to sophisticated investors, announced
strong performance for the Direxion Spectrum Funds, which continue to
outperform in today's difficult market environment. The Funds specialize in
providing investors with flexible and opportunistic investment strategies
designed to avoid severe losses during a bear market. "We are very excited about the success of the Direxion Spectrum Funds," stated Dan O'Neill, Direxion Funds' President. "As a leader in providing alternative mutual funds for advisors and sophisticated investors, we believe in offering strategies that effectively manage risk and return in all environments. The outstanding showing of the Direxion Spectrum Funds this year demonstrates our commitment to meeting this important and growing area of demand. " The Direxion Spectrum Equity Opportunity Fund (NASDAQ:SFEOX - News) seeks a high total rate of return on an annual basis, and is actively managed to anticipate, and respond to, trends in equities. The Direxion Spectrum Global Perspective Fund (NASDAQ:SFGPX - News), which also seeks a high annual total return, is actively managed to capitalize on trends in various countries and regions around the world, including emerging markets. The Direxion Select Alternative Fund (NASDAQ:SFHYX - News) seeks a moderate annual total return, and is actively managed to navigate trends in fixed income, equities, ETFs and other investment companies. For each of the Funds, identifying and controlling risk is key to the portfolio construction and investment strategy. The Funds are subadvised by Hundredfold Advisors, LLC, which specializes in providing successful active investment management for individual investors. "In difficult markets, being active in one's approach to investing allows a greater level of flexibility than traditional buy-and-hold strategies," stated Ralph J. Doudera, Portfolio Manager, Hundredfold Advisors, LLC. "As subadvisor to the Direxion Spectrum Funds, we apply our decades of expertise in opportunistic investing in order to minimize losses and build value for the next bull market run." As of June 30, 2009, the Funds performance is as follows:
YTD 1 Yr. Since Inception Morningstar
Fund Name Ticker Return % Return % Inception Date Rating
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Direxion
Spectrum
Equity
Opportunity SFEOX 6.7% (8.81)% 0.54% 10/11/2004 Five Stars*
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Direxion
Spectrum
Global
Perspective SFGPX 8.4% (11.22)% 6.65% 9/27/2004 Five Stars**
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Direxion Select
Alternative SFHYX 12.2% 4.57% 2.42% 9/1/2004 Five Stars***
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As of June 30, 2009, comparative performance of the benchmark index (S&P 500) displayed 3.1% YTD and -26.3% on a 1 yr. basis. The performance data quoted represents past performance; past performance does not guarantee future results; the investment return and principal value of an investment will fluctuate; an investor's shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized. Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. For additional information, see the fund's prospectus. To request more information on Direxion Spectrum Funds, or to speak to a member of the Direxion team, please contact Carol Graumann, JCPR, Inc., at (973) 732-3531/carol@jcpublicrelations.com or Katrine Winther-Olesen, JCPR, Inc., at (212) 288-5424/katrine@jcpublicrelations.com. About Direxion Funds Direxion Funds, managed by Rafferty Asset Management, LLC, is a major provider of leveraged index funds, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $6.6 billion in assets under management as of June 30, 2009. The company's business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners. For more information on the Direxion Spectrum Funds, please visit www.direxionfunds.com/spectrum. An investor should consider the investment objectives, risks, charges, and expenses of any of the Direxion Funds before investing. There is no guarantee that any Direxion Fund will achieve its investment objective. Investors should review the prospectus for more information about investing in Direxion Funds. The total annual fund operating expense ratio of the Direxion Spectrum Equity Opportunity Fund is 2.52%, net of any fee, waivers or expense reimbursements. The total annual fund operating expense ratio of the Direxion Spectrum Global Perspective Fund is 2.65%, net of any fee, waivers or expense reimbursements. The total annual fund operating expense ratio of the Direxion Select Alternative Fund is 2.59%, net of any fee, waivers or expense reimbursements. * Morning Star rating based out of 501 funds within the fund category of MidCap Growth -- as of 6/30/2009. ** Morning Star rating based out of 617 funds within the fund category of Foreign Large Blend -- as of 6/30/2009. *** Morning Star rating based out of 84 funds within the fund category of Conservative Allocation -- as of 6/30/2009. The principal risks of investing in the Spectrum Funds are Risks of the Subadviser's Investment Strategy, Risks of Aggressive Investment Techniques, High Portfolio Turnover, Risk of Investing in Derivatives, Risks of Investing in ETFs, Risks of Investing in Other Investment Companies, Swap Agreement Risks, Risk of Asset-Backed Securities, Leverage Risk, Risks of Shorting Securities, and Risk of Non-Diversification. The additional risks of investing in the Spectrum Select Alternative Fund are Credit Risk and Lower-Quality Debt Securities, Interest Rate Changes, Prepayment Risk, and Risk of Asset-Backed Securities. The additional risks of investing in the Spectrum Global Perspective Fund are Risks of Investing in Equity Securities, Risks of Investing in Foreign Securities, Risks of Investing in Emerging Markets, Credit Risk and Lower-Quality Debt Securities, and Risks of Investing in Small and Mid-Capitalization Companies. The additional risks of investing in the Spectrum Equity Opportunity Fund are Risks of Investing in Equity Securities, Risks of Investing in Small Capitalization Companies, and Risks of Investing in Foreign Securities. For more information on the risks of the Spectrum Funds, including a description of each risk, please refer to the prospectus. Date of First Use: July 14, 2009. Distributed by: Rafferty Capital Markets LLC Contact:
Source: Direxion Funds
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