Subject: File No. S7-24-15
From: Maurice Wilson

February 20, 2020


As an advisor who has used leveraged funds for several years I would like to share with the Commission my experiences with the product in question.

1) Through the use of leveraged funds we have been able to help clients with limited investment dollars increase their buying power in the stock market. This comes as a result of the increased exposure leveraged funds give to market segments.

2) Conversely, for clients with larger accounts, we've used the funds to lower the amount of capital they have to expose to the market to achieve their investment goals.

3) The final benefit we've realized with leveraged funds is the ability to diversify client portfolios into different market sectors (real estate, semiconductors, healthcare, etc.) without having to commit a material amount of money

I hope the SEC takes these comments into consideration when ruling on this matter.

Thank you for your time.