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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-18F-1
Notification of Election Pursuant to Rule 18f-1
under the Investment Company Act of 1940
RYDEX DYNAMIC FUNDS
NOTIFICATION OF ELECTION
The undersigned registered open-end investment company hereby notifies
the Securities and Exchange Commission that it elects to commit itself to pay in
cash all redemptions by a shareholder of record as provided by Rule 18f-1 under
the Investment Company Act of 1940. It is understood that this election is
irrevocable while such Rule is in effect unless the Commission by order upon
application permits a withdrawal of this Notification of Election.
SIGNATURES
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Pursuant to the requirements of Rule 18f-1 under the Investment
Company Act of 1940, the Registrant has caused this notification of election to
be duly executed on its behalf in the City of Rockville in the State of Maryland
on the 11th day of January, 2000.
Signature:
RYDEX DYNAMIC FUNDS
By: /s/Albert P. Viragh
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Albert P. Viragh
President
Attest: /s/Carl Verboncoeur
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Carl Verboncoeur
Vice President