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INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Post-Effective Amendment
No. 41 to Registration Statement No. 033-59692 of our reports dated May 22, 2000
appearing in the Rydex Series Funds' Annual Reports to Shareholders for the year
ended March 31, 2000. We also consent to the references to us under the headings
"Financial Highlights" in the Prospectuses and "Auditors and Custodian" in the
Statement of Additional Information, all of which are part of such Registration
Statement.
Deloitte & Touche
Princeton, New Jersey
October 6, 2000
