Information Circular: Direxion Funds

The Direxion Funds (the “Trust”) is a management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”), consisting of several investment portfolios. This circular relates only to the Direxion Daily EURO STOXX 50 Bull 3X Shares (the “Fund”). Rafferty Asset Management, LLC (the “Adviser”) serves as the investment adviser to the Fund. The shares of the Fund are referred to herein as “Shares.”