Direxion Expands Alternative Investment Team With Addition of New Managing Director

BOSTON, Aug. 18, 2011 /PRNewswire/ -- Direxion, a leader in alternative investment solutions, has announced the recent appointment of Edward Egilinsky to the position of Managing Director, Head of Alternative Investments. As a member of Direxion's management team, Mr. Egilinsky will drive the firm's product development initiatives, internal and external messaging, training and support of product delivery.  

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"Ed's past success in building out alternative investment products and platforms dovetail perfectly with Direxion's proven capabilities in alternative strategies," said Direxion President Dan O'Neill. "He will play an integral role in helping us develop and distribute products as part of our continued commitment to expanding "buy and hold" alternative strategies for investors."

Mr. Egilinsky brings more than 19 years business development experience in the alternative investment industry, including having held several senior sales management positions and raising multiple billions of dollars in assets for a number of investment firms. Most recently, he served as Managing Director for Price Asset Management, where he helped lead product distribution, sales and new product initiatives.

Prior to that, Mr. Egilinsky served as Managing Director and Head of Alternative Strategies for Rydex Investments, providing leadership to the sales team for alternative strategy initiatives and expanding the firm's distribution channels to include family offices, registered investment advisors, national investment firms, regional firms and independent advisors. He was instrumental in launching the first open-end mutual fund to give retail investors access to managed futures.

"Direxion has continually proven its commitment to product innovation and its dedication to offering alternative investment solutions for advisors and investors," Mr. Egilinsky said. "I am proud to be a part of the Direxion's team and look forward to providing continued innovation to our clients."

For more information about Direxion, please contact James Doyle at 973-850-7308 or [email protected].

About Direxion

Direxion Funds and Direxion Shares, managed by Rafferty Asset Management, LLC, offer 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 $7.5 billion in assets under management as of 6/30/11. 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, please visit www.direxionfunds.com or www.direxionshares.com.

Disclosure:

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

Investing in index funds may be more volatile than investing in broadly diversified funds. The use of leverage by a mutual fund increases the risk to the fund. The more a fund invests in leveraged instruments the more the leverage will magnify gains or losses on those investments.

Risks:

The risks associated with the funds are detailed in the prospectuses which include Adverse Market Conditions Risk, Adviser's Investment Strategy Risk, Aggressive Investment Techniques Risk, Commodities Risk, Concentration Risk, Counterparty Risk, Credit Risk, Currency Exchange Rate Risk, Debt Instrument Risk, Depositary Receipt Risk, Early Close/Trading Halt Risk, Emerging Markets Risk, Equity Securities Risk, Foreign Securities Risk, Gain Limitation Risk, Geographic Concentration Risk, Interest Rate Risk, Intra-Calendar Month Investment Risk, Inverse Correlation Risk, Leverage Risk, Lower-Quality Debt Securities, Market Risk, Market Timing Activity and High Portfolio Turnover, Monthly Correlation Risk, and Negative Implications of Monthly Goals in Volatile Market.

Date of First Use: August 18, 2011. Distributed by: Rafferty Capital Markets LLC

SOURCE Direxion

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