EX-99.3 VOTING TRUST 4 proxyresults.txt PROXY RESULTS Proxy Results At a special meeting of shareholders initially held on October 4 2007 the shareholders of the Funds voted on whether to approve a new investment advisory agreement between Rydex Series Funds and Padco Advisors Inc. A description of the number of shares voted is as follows: Shares Shares Shares Fund For Against Abstain Nova Fund 3163062 101003 229936 S&P 500 Fund 295816 8647 22973 Inverse S&P 500 Strategy Fund 4806169 229252 214166 OTC Fund 27570411 878257 1964604 Inverse OTC Strategy Fund 2734357 142495 183319 Mid-Cap 1.5x Strategy Fund 476156 22055 44007 Inverse Mid-Cap Strategy Fund 125396 14811 6431 Russell 2000 1.5x Strategy Fund 702981 29024 43418 Russell 2000 Fund 92656 24115 1004 Inverse Russell 2000 Strategy Fund 1308673 60090 91630 Government Long Bond 1.2x Strategy Fund 4751180 49721 199783 Inverse Government Long Bond Strategy Fund 12909255 683710 795843 High Yield Strategy Fund 74211 0 388 Inverse High Yield Strategy Fund 222239 2233 8164 Europe 1.25x Strategy Fund 1788988 28515 66212 Small-Cap Value Fund 153215 2934 2190 Mid-Cap Value Fund 368445 17247 22909 Large-Cap Value Fund 500488 14911 12824 Small-Cap Growth Fund 150345 1248 1072 Mid-Cap Growth Fund 467044 8679 5281 Large-Cap Growth Fund 1368958 46355 47325 U.S. Government Money Market Fund 649031153 21984886 38605738 Essential Portfolio Conservative Fund 510139 7254 29231 Essential Portfolio Moderate Fund 2042428 61742 167979 Essential Portfolio Aggressive Fund 1539830 52095 116785 Banking Fund 535251 7960 13844 Basic Materials Fund 1753112 42569 91329 Biotechnology Fund 1435161 70100 79330 Consumer Products Fund 824062 1321 1816 Electronics Fund 935012 18220 36573 Energy Fund 2360951 100410 112744 Energy Services Fund 1666599 63005 90843 Financial Services Fund 527241 14731 11979 Health Care Fund 1832241 16675 26494 Internet Fund 122553 3049 1915 Leisure Fund 123722 3385 5138 Precious Metals Fund 1531560 116180 59947 Retailing Fund 319928 7331 10811 Technology Fund 1808881 58950 75681 Telecommunications Fund 1655490 15300 46989 Transportation Fund 223682 3470 16064 Utilities Fund 497657 14235 49699 Multi-Cap Core Equity Fund 1921467 92938 109304 Sector Rotation Fund 9472436 369538 743388 Absolute Return Strategies Fund 6220345 160607 308058 Commodities Strategy Fund 1345565 22341 50094 Hedged Equity Fund 1001788 22173 50020 Managed Futures Strategy Fund 3182571 86986 150411 Real Estate Fund 226239 316 158 Strengthening Dollar 2x Strategy Fund 526508 11307 30283 Weakening Dollar 2x Strategy Fund 2067788 99919 219499