Subject: File No. S7-24-15
From: Serge Saimpy

March 24, 2020

I believe that inverse and leveraged funds play an important role in stabilizing the financial markets by providing all participants of the domestic and international securities industries with an additional level of liquidity, diversification and economic opportunity.

These funds do so in a simple manner that is not commonly found in the typical securities marketplace, thereby restoring order and confidence when trading volatile securities.
The leveraged and inverse funds allow the small and institutional investor a practical, objective and accountable platform in which to engage in buying and selling tradeable financial products effectively.

I am against any proposal that contradicts the benefits of such an innovative product of investment finance. I strongly support the role that these funds play in our investing arena.

Lastly, we must not confuse investment portfolio allocation challenges with the investment results, success, or failure of a given portfolio. Fund performance, as we are well aware, is never guaranteed in the risk seeking investment world. Neither are investment fees.

I wouldn't have it any other way

Thank you.