Unlike most other Rydex SGI Funds, the Funds listed below are not suitable for purchase by active investors. The Funds are intended for long-term investment purposes only and discourages shareholders from engaging in “market timing” or other types of excessive short-term trading. This frequent trading into and out of the Funds may present risks to the Funds’ long-term shareholders, all of which could adversely affect shareholder returns. The risks posed by frequent trading include interfering with the efficient implementation of the Funds’ investment strategies, triggering the recognition of taxable gains and losses on the sale of Fund investments, requiring the Funds to maintain higher cash balances to meet redemption requests, and experiencing increased transaction costs. Consequently, the Board of Trustees has adopted policies and procedures designed to prevent frequent purchases and redemptions of shares of the Funds.

For purposes of applying the Funds’ policies, the Advisor may consider the trading history of accounts under common ownership or control. In addition, the Funds reserve the right to reject any purchase request by any investor or group of investors for any reason without prior notice, including, in particular, if the Advisor reasonably believes that the trading activity would be harmful or disruptive to the Funds. Although these policies are designed to deter frequent trading, none of these measures alone nor all of them taken together eliminate the possibility that frequent trading in the Funds will occur, particularly with respect to trades placed by shareholders that invest in the Funds through omnibus accounts maintained by brokers, retirement plan accounts and other financial intermediaries. The Funds’ access to information about individual shareholder transactions made through such omnibus arrangements is often unavailable or severely limited. As a result, the Funds cannot assure that their policies will be enforced with regard to those Fund shares held through such omnibus arrangements (which may represent a majority of Fund shares), and as a result frequent trading could adversely affect the Funds and their long-term shareholders as discussed above.

Fund List:
All-Asset Aggressive Strategy
All-Asset Conservative Strategy
All-Asset Moderate Strategy
All Cap Value
Alpha Opportunity
Alternative Strategies
Alternative Strategies Allocation
Equity Market Neutral
Event Driven and Distressed Strategies
High Yield
International Long Short Select
Large Cap Concentrated Growth
Large Cap Core
Large Cap Value
Large Cap Value Institutional
Long/Short Commodities Strategy
Long Short Equity Strategy
Long Short Interest Rate Strategy
Managed Futures Strategy
Mid Cap Growth
Mid Cap Value
Mid Cap Value Institutional
MSCI EAFE Equal Weight Fund
Multi-Hedge Strategies
Small Cap Growth
Small Cap Value
U.S. Intermediate Bond
U.S. Long Short Momentum