Morgan, Lewis & Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, D.C. 20004
Tel: 202.739.3000
Fax: 202.739.3001
www.morganlewis.com
May 7, 2012
VIA EDGAR
U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
Re: | Rydex Series Funds: Registration Statement on Form N-14 (File No. 333- ) |
Ladies and Gentlemen:
On behalf of our client, Rydex Series Funds (the “Trust”), we are filing the Trust’s Registration Statement under the Securities Act of 1933, as amended, on Form N-14, including exhibits hereto. The Combined Prospectus and Proxy Statement contained in this filing relates to the reorganization of the Trust’s Alternative Strategies Allocation Fund with and into the Trust’s Multi-Hedge Strategies Fund.
Please feel free to contact Laura Flores at (202) 739-5684 with your questions or comments.
Sincerely,
/s/ Laura E. Flores
Laura E. Flores