Direxion Long/Short Global IPO Fund

* Estimated Current Exposure Level data updated as often as once per minute, but this web page must be refreshed to obtain updated data.

• The Fund seeks a unique equity return stream through the implementation of a diversified investment strategy that provides access to U.S. and global Initial Public Offerings (IPOs).
• Long exposure is obtained primarily through investing directly into individual IPOs and by seeking to replicate performance of the FTSE Renaissance Global IPO Index.
• The Strategy also has the ability to hedge its position by shorting U.S. and global equity indexes, especially in periods of lack of IPO deal flow and/or broader equity market decline.

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 shares redeemed (through sales or exchanges) within 90 days of the date of purchase.

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 Portfolio 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.