0001193125-12-137443.txt : 20120328 0001193125-12-137443.hdr.sgml : 20120328 20120328163445 ACCESSION NUMBER: 0001193125-12-137443 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120328 DATE AS OF CHANGE: 20120328 EFFECTIVENESS DATE: 20120328 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SECURITY EQUITY FUND CENTRAL INDEX KEY: 0000088525 IRS NUMBER: 486104426 STATE OF INCORPORATION: KS FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-19458 FILM NUMBER: 12720978 BUSINESS ADDRESS: STREET 1: SECURITY INVESTORS, LLC STREET 2: ONE SECURITY BENEFIT PLACE CITY: TOPEKA STATE: KS ZIP: 66636-0001 BUSINESS PHONE: 7854383127 MAIL ADDRESS: STREET 1: SECURITY INVESTORS, LLC STREET 2: ONE SECURITY BENEFIT PLACE CITY: TOPEKA STATE: KS ZIP: 66636-0001 0000088525 S000008805 Large Cap Core C000023958 A SECEX C000023959 B SEQBX C000023960 C SFECX C000110205 Institutional GILIX 0000088525 S000008806 Alpha Opportunity C000023961 A SAOAX C000023962 B SAOBX C000023963 C SAOCX C000071557 Institutional SAOIX 0000088525 S000008807 MSCI EAFE Equal Weight C000023964 A SEQAX C000023965 B SGOBX C000023966 C SFGCX C000100456 I SEWIX 0000088525 S000008809 Mid Cap Value C000023970 A SEVAX C000023971 B SVSBX C000023972 C SEVSX 0000088525 S000008810 Small Cap Growth C000023973 A SSCAX C000023974 B SEPBX C000023975 C SESCX C000110206 Institutional GIMIX 0000088525 S000008812 Large Cap Concentrated Growth C000023979 A SEFAX C000023980 B SEFBX C000023981 C SSSCX C000110207 Institutional GIQIX 0000088525 S000022641 Small Cap Value C000065507 A SSUAX C000065508 C SSVCX C000065509 Institutional SSUIX 0000088525 S000022644 Mid Cap Value Institutional C000065512 Mid Cap Value Institutional SVUIX 0000088525 S000024251 All Cap Value C000071554 A C000071555 C SEVCX C000071556 Institutional SVSIX 497 1 d324216d497.htm 497 - SECURITY EQUITY FUND SUPPLEMENT 497 - Security Equity Fund Supplement

Security Equity Fund

Security Income Fund

Security Mid Cap Growth Fund

Security Large Cap Value Fund

805 King Farm Blvd., Suite 600

Rockville, Maryland 20850

Supplement

Dated March 28, 2012

This supplement provides new and additional information beyond that contained in the currently effective Prospectuses for the above listed funds and their underlying series (the “Funds”):

Shareholders of the Funds may exchange their shares for shares of another Fund or for shares of other funds distributed by the distributor, Rydex Distributors, LLC, which includes the Rydex | SGI U.S. Government Money Market Fund. Effective following the close of business on May 4, 2012, the Rydex | SGI U.S. Government Money Market Fund will no longer offer multiple classes of shares, and all outstanding shares of the Rydex | SGI U.S. Government Money Market Fund will be converted to the Rydex | SGI U.S. Government Money Market Fund’s new share class, the Money Market Share Class. As a result of this change, Class A, Class B, Class C and Institutional Class shares of the Funds will be exchangeable into the Money Market Share Class of the Rydex | SGI U.S. Government Money Market Fund.

Effective following the close of business on May 4, 2012, the section entitled “Exchange Privilege” is modified by adding the following sub-section:

Exchanges into the Rydex | SGI U.S. Government Money Market Fund. A Fund’s shares may be exchanged into the Money Market Class Shares of the Rydex | SGI U.S. Government Money Market Fund, which is offered in a separate prospectus that you can obtain upon request and that you should consult prior to an exchange. The Money Market Class Shares of the Rydex | SGI U.S. Government Money Market Fund have no distribution and shareholder service (12b-1) fees, initial (up-front) sales charges, initial investment minimum and minimum balance requirements.

If your investment in Class A, Class B or Class C shares of a Fund is subject to a deferred sales charge at the time of the exchange, shareholders should note that no deferred sales charge will be incurred on the exchange itself. However, redemptions from the Rydex | SGI U.S. Government Money Market Fund may be subject to such deferred sales charge, as may redemptions from other Funds in which you could later invest, as discussed below.

The period of time during which you hold the Money Market Class Shares of the Rydex | SGI U.S. Government Money Market Fund will not be counted toward determining the applicability of the deferred sales charge that can be charged upon redemptions within 12 months of a purchase of Class A or Class C shares or within five years of a purchase of Class B shares.

Accordingly, if your Class A, Class B or Class C shares of a Fund are subject to a deferred sales charge at the time of your exchange into the Money Market Class Shares of the Rydex | SGI U.S. Government Money Market Fund and you redeem your shares, the deferred sales charge will be assessed at the time you redeem your Money Market Class Shares of the Rydex | SGI U.S. Government Money Market Fund.

If your Class A, Class B or Class C shares of a Fund are subject to a deferred sales charge at the time of the exchange and you subsequently re-exchange your Money Market Class Shares of the Rydex | SGI U.S. Government Money Market Fund for Class A, Class B or Class C shares of another Rydex | SGI Fund, respectively, the deferred sales charge will not be assessed by the Rydex | SGI U.S. Government Money Market Fund at the

 

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time of a subsequent exchange. You will not be given credit for the time you held the Money Market Class Shares of the Rydex│SGI U.S. Government Money Market Fund, but you will be given credit for the period during which you held Class A, Class B or Class C shares of a Fund prior to the exchange of the shares for Money Market Class Shares. Therefore, a deferred sales charge will be based on the period of time you held Class A, Class B or Class C shares of a Fund and the other Rydex│SGI Funds.

Shareholders should note that, if your initial investment was subject to an initial sales charge, a further exchange of the Money Market Class Shares of the Rydex│SGI U.S. Government Money Market Fund will not be subject to a charge at the time of such exchange.

If you exchange Class B shares of the Funds into the Money Market Class Shares, you may only subsequently exchange your Money Market Class Shares of the Rydex│SGI U.S. Government Money Market Fund for Class B shares of a Rydex│SGI Fund, although once you have reached the period necessary to convert into Class A shares, you will be eligible to exchange the Money Market Class Shares for Class A shares of another Rydex│SGI Fund.

For additional information, see the prospectus for the Rydex│SGI U.S. Government Money Market Fund.

Please Retain This Supplement for Future Reference

 

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