Direxion Launches Long/Short Global Currency Fund

NEW YORK, Oct. 1, 2013 /PRNewswire/ -- Direxion, a leader in alternative investment solutions, has expanded its suite of alternative-strategy mutual funds with the introduction of the Direxion Long/Short Global Currency Fund (DXAFX). The Fund offers investors a cost-efficient, liquid and transparent way to obtain direct exposure to currencies in a broad range of markets around the world.  Direxion's currency fund is the latest addition to a lineup that offers institutional-style alternative strategies to the retail marketplace. 

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The actively-managed fund utilizes a rules-based, long/short investment approach developed by Direxion based on the methodology of the Morgan Stanley Multi FX Enhanced V10 USD Index. The Fund can take a long or short position in 19 eligible currencies in both developed and emerging markets. Its strategy places equal emphasis on four factors — interest rates, inflation, open interest and stock index performance — when determining whether to invest long or short on an individual currency. The strategy is designed to target a volatility level of 10 percent, and rebalances portfolio allocations on a monthly basis, at a minimum.

"Our Fund offers investors the opportunity to directly invest in foreign currencies and potentially benefit whether the U.S. dollar increases or decreases in value relative to those currencies," said Edward Egilinsky, Managing Director and Head of Alternative Investments at Direxion. "The Fund sets itself apart in the marketplace by offering retail investors both the broad diversification of 19 global currencies — in developed and emerging markets — combined with a long/short approach."

"Currencies have historically displayed low correlations and independent return streams to other alternative asset classes and strategies, such as managed futures and hedge funds," said Mr. Egilinsky. "The ability of a long/short currency strategy to perform in varied market conditions provides investors the potential for additional diversification within a stock and bond portfolio."

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 $7.3 billion in assets under management as of 9/30/13. 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.

The Morgan Stanley Multi FX Enhanced V10 USD Index and Morgan Stanley are service mark(s) of Morgan Stanley and its affiliates and have been licensed for use for certain limited purposes by Rafferty Asset Management, LLC. The Fund and/or any fund offering referred to herein are not sponsored, endorsed, or promoted by Morgan Stanley, and Morgan Stanley bears no liability with respect to the Fund or any such fund offering. Morgan Stanley has not provided any investment advice to Direxion or the Fund and is not, and does not purport to be, the fiduciary, municipal or any other type of advisor to Direxion, the Fund or any investor of the Fund

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.

The total annual fund operating expense ratio of the Direxion Long/Short Global Currency Fund, gross of any fee waivers or expense reimbursements, as stated in the fee table of the fund's prospectus, is 1.24% for A Shares, 0.99% for Institutional Class, and 1.99% for C Shares. Class A Shares may incur a sales charge of up to 5.50%, please check with your broker dealer for more information. Inception dates for all share classes is 10/01/2013.

An investment in the Fund entails risk. The Fund could lose money or its performance could trail that of other investment alternatives. The Advisor cannot guarantee that the Fund will achieve its objective. In addition, the Fund presents some risks not traditionally associated with most mutual funds. It is important that investors closely review and understand these risks before making an investment in the Fund. Turbulence in financial markets and reduced liquidity in equity, credit and fixed income markets could negatively affect many issuers worldwide, including the Fund. There is the risk that you could lose all or a portion of your money on your investment in the Fund. Risks  include Active and Frequent Trading Risk, Adviser's Investment Strategy Risk, Aggressive Investment Techniques Risk, Counterparty Risk, Credit Risk, Currency Exchange Rate, and Investment Risks, Debt Instrument Risk, Derivatives Risk, Futures and Forwards Contract Risk, Options Risk, Swap Risk, Emerging Markets Risk, Foreign Securities Risk, Interest Rate Risk, Leverage Risk, Liquidity Risk, Market Risk, Non-Diversification Risk, Other Investment Companies (including Exchange-Traded Funds) Risk, Quantitative Model Risk, Regulatory Risk, Shorting Securities Risk, and Valuation Time Risk. For additional information and most recent performance, visit www.direxionfunds.com or call 877-437-9363.

Distributor: Rafferty Capital Markets, LLC.

SOURCE Direxion

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