U.S. BANCORP FUND SERVICES, LLC
615 E. Michigan Street
Milwaukee, WI  53202



March 5, 2014

VIA EDGAR TRANSMISSION

U.S. Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
 
Re: 
Direxion Funds (the “Trust”)
File Nos. 333-28697 and 811-08243

Dear Sir or Madam:

Pursuant to Rule 497(j) under the Securities Act of 1933 (the “Act”), the Trust hereby certifies that the forms of the Prospectus and Statement of Additional Information for the Class A, Class C and Institutional Classes of the Direxion Indexed Commodity Strategy Fund, Direxion/Wilshire Dynamic Fund, Direxion Indexed Managed Futures Strategy Fund and Direxion Long/Short Global Currency Fund that would have been filed under Rule 497(b) or (c) under the Act would not have differed from the documents each dated February 28, 2014, filed electronically as Post-Effective Amendment No. 148 to the Trust’s Registration Statement on Form N-1A on February 25, 2014 and effective on February 28, 2014.

If you have any questions concerning the foregoing, please contact Michael Barolsky of U.S. Bancorp Fund Services, LLC at (414) 765-5586 or Eric S. Purple of K&L Gates LLP at (202) 778-9220.

Sincerely,


/s/ Michael D. Barolsky                                            

Michael D. Barolsky, Esq.
For U.S. Bancorp Fund Services, LLC
 





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