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RYDEX SERIES FUNDS
RYDEX DYNAMIC FUNDS
SUPPLEMENT DATED JANUARY 10, 2001
TO THE
RYDEX SERIES FUNDS C CLASS SHARES PROSPECTUS
DATED OCTOBER 9, 2000
AND
RYDEX DYNAMIC FUNDS C CLASS SHARES PROSPECTUS
DATED OCTOBER 9, 2000
This supplement provides new and additional information beyond that contained in
each Prospectus and should be read in conjunction with each Prospectus.
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On pages 7 and 11 of the Rydex Series Fund C Class Shares Prospectus, and on
pages 3, 5, and 7 of the Rydex Dynamic Funds C Class Shares Prospectus, the
following footnote should be added to the fee table as follows:
MAXIMUM DEFERRED SALES CHARGE (LOAD) *
(AS A PERCENTAGE OF ORIGINAL PURCHASE PRICE OR REDEMPTION PROCEEDS,
WHICHEVER IS LESS)
___________________________________________________1.00%
* THE DEFERRED SALES CHARGE WILL BE WAIVED FOR CUSTOMERS OF FINANCIAL
INTERMEDIARIES THAT HAVE ENTERED INTO ARRANGEMENTS WITH THE
DISTRIBUTOR TO FOREGO TRANSACTION-BASED COMPENSATION IN CONNECTION
WITH THE INITIAL PURCHASE.
On page 25 of the Rydex Series Fund C Class Shares Prospectus, and on page 22 of
the Rydex Dynamic Funds C Class Shares Prospectus delete the last sentence under
the heading "SALES CHARGES" and replace it with the following:
The CDSC is used to reimburse the Distributor for paying your financial
intermediary a sales commission equal to 1.00% of the purchase price of
your investment in connection with your initial purchase. If your
intermediary has entered into arrangements with the Distributor to
forego receipt of that initial 1.00% sales commission, the Fund will
waive any otherwise applicable CDSC when you redeem your C Class
Shares. For more information about whether your broker-dealer has
entered into such an arrangement, contact your intermediary directly.
WAIVER OF THE CDSC
The CDSC will be waived for the redemption of C Class Shares
- purchased through a financial intermediary that has entered
into arrangements with the Distributor to forego
transaction-based compensation in connection with the initial
purchase.
- purchased by reinvesting dividends;
- following the death or disability of a shareholder;
- that, in the aggregate, do not exceed 10% of the initial value
of the account; and
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- resulting from the Trust's right to redeem accounts that
maintain a balance below the current applicable minimum
investment.
The policy of waiving the CDSC for certain redemptions may be modified
or discontinued, with respect to new shareholders, at any time.
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PLEASE RETAIN THIS SUPPLEMENT
FOR FUTURE REFERENCE
