Rydex Inverse Gov Long Bond Strategy A (RYAQX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks total return, before expenses and costs, that inversely correlates to the price movements of the 30-year Treasury bond. The fund normally invests in financial instruments with economic characteristics that should perform opposite to fixed income securities issued by the U.S. government. It is a nondiversified master feeder fund.

Fund Management Michael P. Byrum, Lead Manager since 01-Aug-00
Byrum is president and CIO of Rydex Investments, his employer since its foundation in 1993. He has ultimate responsibility for the management of the funds. He was named the president of Rydex Investments in 2004 and has served as chief investment officer since 2003.Prior to joining Rydex Investments, Mr. Byrum worked for Money Management Associates, the investment adviser for Rushmore Funds, Inc. Byrum holds the Charted Financial Analyst designation.