<PAGE>
[LOGO]
[GRAPHIC]
INVESTING FOR
RELATIVE STABILITY AND CONVENIENCE...
FORTIS
MONEY FUND
SEMI-ANNUAL REPORT
March 31, 1997
<PAGE>
FORTIS MONEY FUND SEMI-ANNUAL REPORT
CONTENTS
LETTER TO SHAREHOLDERS 1
SCHEDULE OF INVESTMENTS 2
STATEMENT OF ASSETS AND LIABILITIES 4
STATEMENT OF OPERATIONS 5
STATEMENTS OF CHANGES IN NET ASSETS 6
NOTES TO FINANCIAL STATEMENTS 7
BOARD OF DIRECTORS AND OFFICERS 9
- - TOLL-FREE PERSONAL ASSISTANCE
- Shareholder Services
- (800) 800-2638, Ext. 3012
- 7:30 a.m. to 5:30 p.m. CST, M-Th
- 7:30 a.m. to 5:00 p.m. CST, F
- - TOLL-FREE INFORMATION LINE
- For daily account balances,
transaction activity or net asset
value information
- (800) 800-2638, Ext. 4344
- 24 hours a day
FOR MORE INFORMATION ABOUT FORTIS FINANCIAL GROUP'S FAMILY OF PRODUCTS, CALL
YOUR INVESTMENT REPRESENTATIVE OR THE HOME OFFICE AT (800) 800-2638.
TO ORDER PROSPECTUSES OR SALES LITERATURE FOR ANY FORTIS PRODUCT, CALL (800)
800-2638, EXT. 4579.
HOW TO USE THIS REPORT
The letter from the portfolio manager and president provides a detailed analysis
of the fund and financial markets. The pie chart shows a breakdown of the fund's
assets by industry.
This report is just one of several tools you can use to learn more about your
investment in the Fortis Family of Mutual Funds. Your investment representative,
who understands your personal financial situation, can best explain the features
of your investment and how it's designed to help you meet your financial goals.
<PAGE>
Photo
PORTFOLIO COMPOSITION BY INDUSTRY AS OF 3/31/97
EDGAR REPRESENTATION OF DATA POINTS USED IN PRINTED GRAPHIC
<TABLE>
<S> <C>
Consumer Finance 15.4%
Diversified Finance 15.1%
Banks 24.7%
Captive Equipment Finance 8.8%
Captive Auto Finance 9.0%
Brokerage & Investment 4.4%
Industrial 4.4%
Tabacco 4.2%
Utilities - Electric 5.5%
Food-Grocery 4.6%
Beverage 3.7%
</TABLE>
DEAR SHAREHOLDER,
We are pleased to present the Fortis Money Fund semi-annual report for the
period ended March 31, 1997.
ECONOMIC REVIEW AND INVESTMENT STRATEGIES
On March 25, 1997 the Federal Reserve raised the federal funds rate .25% and
ended a long period of stable short-term interest rates. This adjustment was
made to slow the economy before its strength caused inflation to rise to
unacceptable levels. During the months before the rate hike, short-term rates
stayed within a narrow range despite fairly robust economic growth. In the
second half of 1996, the Gross Domestic Product (GDP) grew at a 3.4% pace,
slightly stronger than what is considered to be noninflationary growth.
PORTFOLIO REVIEW
In the six months ending March 31, 1997 the fund yielded 4.63%. In a period of
stable short term rates, the yield was little changed from last year when the
fund's yield was 4.67%. Given the recent increase in the federal funds rate and
the possibility of more to come, we expect the fund's yield to rise in the
coming months.
In March, we lowered the average maturity of the Money Fund to 40 days,
anticipating that the Federal Reserve would soon be raising rates. Before March,
we kept the average maturity of the Money Fund holdings between 50 and 60 days.
This captured the higher yield on longer maturities during a period when it was
unlikely that rates would rise.
Looking forward, we expect economic growth to be modest for the rest 1997. Our
forecast is for real GDP to grow 3% and for inflation to remain near its current
level of 3%. The Federal Reserve says that this rate of growth has inflationary
implications, and we expect them to raise rates once or twice over the next six
months. We will be keeping the Fund's average maturity fairly short (30-40 days)
until we think there is little chance of more rate increases.
IN CLOSING
We appreciate your investment with Fortis and look forward to serving your
financial needs. If you have any questions, please call us or talk with your
investment professional.
Sincerely,
<TABLE>
<S> <C>
[SIGNATURE] [SIGNATURE]
Dean C. Kopperud Howard G. Hudson
President Vice President
</TABLE>
1
<PAGE>
FORTIS MONEY FUND
Schedule of Investments
(Unaudited)
March 31, 1997
SHORT-TERM INVESTMENTS-99.95%
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
Standard
Principal Maturity & Poor's
Amount Yield Date Rating Value(a)
----------- --------- ------------ --------------- -------------
<C> <S> <C> <C> <C> <C>
BANKS-24.67%
$2,000,000 Banc One Funding Corp. (c)................... 5.49% 05/23/97 A1 $ 1,984,515
4,503,000 Banc One Funding Corp. (c)................... 5.47% 05/09/97 A1 4,477,571
4,000,000 Chase Manhattan Bank N.A..................... 5.51% 07/02/97 A1 3,945,822
6,200,000 Deutsche Bank, Inc........................... 5.50% 05/21/97 A1+ 6,154,103
1,927,000 First Trust Money Market Variable Rate Time
Deposit.................................... 5.34% 04/01/97 A1+ 1,927,000
5,000,000 First Union Bank............................. 5.39% 05/01/97 A1 4,977,875
4,500,000 Norwest Corp................................. 5.48% 04/21/97 A1+ 4,486,675
4,000,000 Toronto-Dominion Holdings USA, Inc........... 5.49% 05/02/97 A1+ 3,981,676
2,500,000 Toronto-Dominion Holdings USA, Inc........... 5.47% 05/19/97 A1+ 2,482,167
-------------
34,417,404
-------------
BEVERAGE-3.73%
5,200,000 Pepsico, Inc................................. 5.36% 04/07/97 A1 5,195,433
-------------
BROKERAGE AND INVESTMENT-4.43%
4,100,000 Merrill Lynch & Co., Inc..................... 5.38% 04/14/97 A1+ 4,092,197
2,100,000 Merrill Lynch & Co., Inc..................... 5.57% 06/03/97 A1+ 2,080,228
-------------
6,172,425
-------------
CAPTIVE AUTO FINANCE-9.04%
4,100,000 Ford Motor Credit Corp....................... 5.41% 06/06/97 A1 4,060,462
2,400,000 Ford Motor Credit Corp....................... 5.62% 05/13/97 A1 2,384,600
2,000,000 General Motors Acceptance Corp............... 5.49% 04/09/97 P1* 1,997,649
4,200,000 General Motors Acceptance Corp............... 5.56% 05/30/97 P1* 4,162,968
-------------
12,605,679
-------------
CAPTIVE EQUIPMENT FINANCE-8.84%
6,000,000 IBM Credit Corp.............................. 5.43% 05/16/97 A1 5,960,400
6,100,000 John Deere Capital Corp...................... 5.44% 04/21/97 A1 6,082,208
300,000 PACCAR Financial Co.......................... 5.79% 06/13/97 A1 296,666
-------------
12,339,274
-------------
CONSUMER FINANCING-15.40%
6,000,000 American Express Credit Corp................. 5.48% 04/30/97 A1 5,974,480
6,000,000 American General Finance Corp................ 5.44% 05/27/97 A1+ 5,950,720
3,600,000 Beneficial Corp.............................. 5.49% 06/05/97 A1 3,565,420
6,000,000 Household Finance Corp....................... 5.45% 04/03/97 A1 5,998,243
-------------
21,488,863
-------------
DIVERSIFIED FINANCE-15.10%
2,582,000 Associates Corp. Master Variable Rate Note... 5.57% 04/01/97 A1+ 2,582,000
6,200,000 CIT Group Holdings, Inc...................... 5.45% 04/02/97 A1 6,199,094
3,000,000 General Electric Capital Corp................ 5.52% 05/28/97 A1+ 2,974,588
3,300,000 General Electric Capital Corp................ 5.56% 07/07/97 A1+ 3,252,163
6,100,000 Prudential Funding Corp...................... 5.39% 05/22/97 A1 6,054,718
-------------
21,062,563
-------------
FOOD-GROCERY, MISCELLANEOUS-4.63%
6,500,000 Nestle Capital Corp.......................... 5.42% 05/08/97 A1 6,464,526
-------------
INDUSTRIAL-4.42%
3,600,000 Xerox Credit Corp............................ 5.42% 05/06/97 A1 3,581,520
2,600,000 Xerox Credit Corp............................ 5.41% 04/24/97 A1 2,591,196
-------------
6,172,716
-------------
TOBACCO-4.15%
2,500,000 Phillip Morris Companies, Inc................ 5.65% 04/23/97 A1 2,491,521
3,300,000 Phillip Morris Companies, Inc................ 6.19% 04/02/97 A1 3,299,441
-------------
5,790,962
-------------
</TABLE>
2
<PAGE>
SHORT-TERM INVESTMENTS-CONTINUED
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Standard
Principal Maturity & Poor's
Amount Yield Date Rating Value(a)
----------- --------- ------------ --------------- -------------
<C> <S> <C> <C> <C> <C>
UTILITIES-ELECTRIC-5.54%
$4,750,000 South Carolina Fuel Co. (d).................. 5.53% 04/21/97 A1 $ 4,735,671
3,000,000 Wisconsin Electric Fuel Trust................ 5.40% 04/11/97 A1+ 2,995,583
-------------
7,731,254
-------------
TOTAL SHORT-TERM INVESTMENTS (COST:
$139,441,099) (B).......................... $ 139,441,099
-------------
-------------
</TABLE>
(a) See Note 1 of accompanying Notes to Financial Statements regarding
valuation of securities.
(b) Also represents the cost of securities for federal income tax purposes.
(c) Commercial paper sold within the terms of a private placement
memorandum, exempt from registration under Section 4(2) of the
Securities Act of 1933, as amended, and may be sold only to dealers in
that program or other "accredited investors". These investments have
been identified by portfolio management as liquid under guidelines
established by the Board of Directors.
(d) Commercial paper sold within the terms of a private placement
memorandum, exempt from registration under Section 4(2) of the
Securiites Act of 1933, as amended, and may be sold only to dealers in
that program or other "accredited investors". This investment has been
identified by portfolio management as illiquid. The portfolio entered
into the following Section 4(2) transaction: March 20, 1997 the
portfolio acquired $4,750,000 par South Carolina Fuel Co. due April 21,
1997 with as cost basis on March 31, 1997 of $4,735,671. The value of
this investment at March 31, 1997 is $4,735,671 which represents 3.39%
of total net assets.
(e) Note: Percentage of investments as shown is the ratio of the total
market value to total net assets.
* Moody's Rating
3
<PAGE>
FORTIS MONEY FUND
Statement of Assets and Liabilities
(Unaudited)
March 31, 1997
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
<S> <C>
ASSETS
Short-term investments, as detailed in
the accompanying schedule, at
amortized cost (approximates market)
(Note 1)............................ $ 139,441,099
Cash on deposit with custodian........ 66,332
Receivables:
Interest and dividends.............. 29,563
Deferred registration costs (Note
1).................................. 93,596
Prepaid expenses...................... 15,907
--------------
TOTAL ASSETS............................ 139,646,497
--------------
LIABILITIES
Cash portion of dividends payable..... 30,569
Payable for investment advisory and
management fees (Note 2)............ 67,488
Payable for distribution fees (Note
2).................................. 19
Accounts payable and accrued
expenses............................ 34,039
--------------
TOTAL LIABILITIES....................... 132,115
--------------
NET ASSETS
Net proceeds of capital stock, par
value $.01 per share-authorized
50,000,000,000 shares............... $ 139,514,382
--------------
SHARES OUTSTANDING AND NET ASSET VALUE
PER SHARE:
Class A shares (based on net assets of
$139,283,744 and 139,283,744 shares
outstanding)........................ $1.00
--------------
Class B shares (based on net assets of
$92,680 and 92,680 shares
outstanding)........................ $1.00
--------------
Class C shares (based on net assets of
$2,945 and 2,945 shares
outstanding)........................ $1.00
--------------
Class H shares (based on net assets of
$135,013 and 135,013 shares
outstanding)........................ $1.00
--------------
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
4
<PAGE>
FORTIS MONEY FUND
Statement of Operations
(Unaudited)
For the Six-Month Period Ended March 31, 1997
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
<S> <C>
NET INVESTMENT INCOME:
Income
Interest income..................... $ 3,390,765
------------
Expenses:
Investment advisory and management
fees (Note 2)...................... 373,979
Distribution fees (Class B) (Note
2)................................. 276
Distribution fees (Class C) (Note
2)................................. 7
Distribution fees (Class H) (Note
2)................................. 711
Legal and auditing fees (Note 2).... 7,658
Custodian fees...................... 8,260
Shareholders' notices and reports... 11,971
Registration fees (Note 1).......... 36,544
Directors' fees and expenses........ 4,721
Transfer agent expenses (Note 2).... 47,045
Other............................... 2,226
------------
Total expenses........................ 493,398
------------
NET INVESTMENT INCOME................... 2,897,367
------------
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS......................... $ 2,897,367
------------
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
5
<PAGE>
FORTIS MONEY FUND
Statement of Changes in Net Assets
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
FOR THE
SIX-MONTH FOR THE
PERIOD ENDED YEAR ENDED
MARCH 31, 1997 SEPTEMBER 30,
(UNAUDITED) 1996
--------------- ---------------
<S> <C> <C>
INCREASE IN NET ASSETS RESULTING FROM
OPERATIONS
Net investment income................. $ 2,897,367 $ 5,573,925
--------------- ---------------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A............................. (2,892,453) (5,567,690)
Class B............................. (1,351) (2,121)
Class C............................. (37) (1,212)
Class H............................. (3,526) (2,902)
--------------- ---------------
TOTAL DISTRIBUTIONS TO SHAREHOLDERS..... (2,897,367) (5,573,925)
--------------- ---------------
CAPITAL STOCK TRANSACTIONS (AT CONSTANT
$1.00 NET ASSET VALUE PER SHARE):
Proceeds from sale of shares
Class A............................. 168,515,498 289,819,879
Class B............................. 183,551 528,590
Class C............................. 2,768 115,173
Class H............................. 470,823 382,158
Proceeds from shares issued as a
result of reinvested dividends
Class A............................. 2,623,762 5,017,020
Class B............................. 751 1,586
Class C............................. 36 1,139
Class H............................. 1,751 2,280
Less cost of repurchase of shares
Class A............................. (152,230,938) (279,933,849)
Class B............................. (119,473) (502,325)
Class C............................. (317) (125,075)
Class H............................. (397,970) (445,978)
--------------- ---------------
NET INCREASE IN NET ASSETS FROM SHARE
TRANSACTIONS............................ 19,050,242 14,860,598
--------------- ---------------
TOTAL INCREASE IN NET ASSETS............ 19,050,242 14,860,598
NET ASSETS:
Beginning of period................... 120,464,140 105,603,542
--------------- ---------------
End of period......................... $ 139,514,382 $ 120,464,140
--------------- ---------------
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
6
<PAGE>
FORTIS MONEY FUND
Notes to Financial Statements
(Unaudited)
- --------------------------------------------------------------------------------
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: The fund is a diversified series
of Fortis Money Portfolios, Inc., an open-end management investment company.
The primary investment objective of the fund is maximum current income to the
extent consistent with stability of principal. The Articles of Incorporation
of Fortis Money Portfolios, Inc. permits the Board of Directors to create
additional portfolios in the future.
The fund offers Class A, Class B, Class C and Class H shares. The fund began
to issue multiple class shares effective November 14, 1994. Class B and H
shares may be subject to a contingent deferred sales charge for six years,
and such shares automatically convert to Class A after eight years. Class C
shares may be subject to a contingent deferred sales charge for one year.
Class A shares of the Fund will be offered to investors generally, while
Class B, C and H will be available only for exchange from the corresponding
class of any other fund. All classes of shares have identical voting,
dividend, liquidation and other rights and the same terms and conditions,
except that the level of distribution fees charged differs between classes.
Income, expenses (other than expenses incurred under each class's
distribution agreement) and realized and unrealized gains or losses on
investments are allocated to each class of shares based on its relative net
assets.
SECURITY VALUATION: Pursuant to Rule 2a-7 under the Investment Company Act of
1940, investments are valued at amortized cost which assumes a constant
amortization to maturity of discount or premium. The use of this method
results in a constant net asset value of $1.00.
SECURITY TRANSACTIONS AND RELATED INVESTMENT INCOME: Security transactions
are accounted for on the trade date. Interest income including amortization
of premium and discount, is recorded on the accrual basis. For the period
ended March 31, 1997, the cost of purchases and proceeds from sales of
short-term securities aggregated $327,560,858 and $308,637,675 respectively.
INCOME TAXES: The fund intends to qualify, under the Internal Revenue Code,
as a regulated investment company and if so qualified, will not have to pay
federal income taxes to the extent its taxable net income is distributed. On
a calendar year basis, the fund intends to distribute substantially all of
its net investment income and realized gains, if any, to avoid the payment of
federal excise taxes.
DEFERRED COSTS: Registration costs are deferred and charged to income over
the registration period.
INCOME DISTRIBUTIONS: It is the policy of the fund to declare a distribution
of all its net investment income each day the New York Stock Exchange is
open, to shareholders of record the previous day, to be paid on the last
business day of each month.
USE OF ESTIMATES: The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date
of the financial statements and the reported amounts of increase and decrease
in net assets from operations during the reporting period. Actual results
could differ from those estimates.
2. PAYMENTS TO RELATED PARTIES: Fortis Advisers, Inc. is the investment adviser
for the fund. Investment advisory and management fees are computed at an
annual rate of .6% of the first $500 million of average daily net assets and
.55% of average daily net assets in excess of $500 million.
Pursuant to a plan adopted under Rule 12b-1 of the Investment Company Act of
1940, Fortis Advisers uses .2% of its advisory and management fee to pay for
distribution expenses. Classes B, C and H pay Fortis Investors, Inc. (the
fund's principal underwriter) additional distribution fees equal to .8% of
average daily net assets (of the respective classes) on an annual basis.
Fortis Investors, Inc. also received sales charges (paid by redeemers of the
funds' shares) aggregating $1,621 for Class B and $1,086 for Class H.
The fund also reimburses Fortis Advisers, Inc. for direct transfer agent
expenses such as postage.
Legal fees and expenses aggregating $3,608 for the period ended March 31,
1997 were paid to a law firm of which the secretary of the fund is a partner.
7
<PAGE>
FORTIS MONEY FUND
Notes to Financial Statements (continued)
(Unaudited)
- --------------------------------------------------------------------------------
3. FINANCIAL HIGHLIGHTS Selected per share historical data for each of the
Portfolios was as follows:
<TABLE>
<CAPTION>
For the Year Ended September 30,
------------------------------------------------------------------------
Class A
------------------------------------------------------------------------
1997 1996 1995 1994 1993 1992
<S> <C> <C> <C> <C> <C> <C>
- -------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of period.... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
--------- --------- --------- --------- -------- --------
Operations:
Investment income - net............... .02 .05 .05 .03 .02 .03
--------- --------- --------- --------- -------- --------
Distributions to shareholders:
From investment income - net.......... (.02) (.05) (.05) (.03) (.02) (.03)
--------- --------- --------- --------- -------- --------
Net asset value, end of period.......... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
--------- --------- --------- --------- -------- --------
Total return............................ 2.33% 4.74% 5.03% 2.92% 2.36% 3.61%
Net assets end of period (000s
omitted).............................. $ 139,284 $ 120,375 $ 105,472 $ 105,659 $ 94,399 $ 98,302
Ratio of expenses to average daily net
assets................................ .87% .91% .91% .88% .93% .83%
Ratio of net investment income to
average daily net assets.............. 4.64% 4.67% 4.91% 2.92% 2.34% 3.59%
</TABLE>
<TABLE>
<CAPTION>
For the Year Ended September 30,
--------------------------------------------------------------------------------------
Class B Class C Class H
-------------------------- -------------------------- --------------------------
1997** 1996+ 1995++ 1997** 1996 1995*** 1997** 1996 1995****
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------------------------
Net asset value, beginning of period.... $1.00 $1.00 $ -- $1.00 $ 1.00 $1.00 $1.00 $ 1.00 $1.00
------ ------ ------ ------ ------ ------ ------ ------ ------
Operations:
Investment income - net............... .02 .04 -- .02 .05 .01 .02 .04 .02
------ ------ ------ ------ ------ ------ ------ ------ ------
Distributions to shareholders:
From investment income - net.......... (.02) (.04) -- (.02) (.05) (.01) (.02) (.04) (.02)
------ ------ ------ ------ ------ ------ ------ ------ ------
Net asset value, end of period.......... $1.00 $1.00 $ -- $1.00 $ 1.00 $1.00 $1.00 $ 1.00 $1.00
------ ------ ------ ------ ------ ------ ------ ------ ------
Total return@........................... 1.89% 4.11% -- 2.24% 4.97% 1.33% 1.99% 4.04% 2.52%
Net assets end of period (000s
omitted).............................. $ 93 $ 28 $ -- $ 3 $ 1 $ 9 $ 135 $ 60 $ 122
Ratio of expenses to average daily net
assets................................ 1.67%* 1.71%* -- 1.67%* 1.46%(a) 1.71%* 1.67%* 1.71% 1.71%*
Ratio of net investment income to
average daily net assets.............. 3.92%* 3.99%* -- 3.99%* 4.33%(a) 4.46%* 3.96%* 4.03% 4.43%*
</TABLE>
* Annualized
** For the six-month period ended March 31, 1997
*** For the period from June 14, 1995 (date of first investment) to
September 30, 1995.
**** For the period from March 16, 1995 (date of first investment) to
September 30, 1995.
@ These are the portfolio's total returns during the periods, including
reinvestment of all distributions.
+ For the period from October 9, 1995 (date of first investment) to
September 30, 1996.
++ No activity for the period from November 14, 1994 (commencement of
operations) to September 30, 1995.
(a) Advisers has reimbursed expenses for 12b-1 fees charged in excess of
National Association of Securities Dealers limitations. For the year
ending September 30, 1996, had the reimbursement not been made, ratios
of expenses and net investment income to average daily net assets
would have been 1.71% and 4.08% respectively, for Class C.
8
<PAGE>
DIRECTORS AND OFFICERS
DIRECTORS Richard W. Cutting CPA AND FINANCIAL CONSULTANT
Allen R. Freedman CHAIRMAN AND CHIEF EXECUTIVE OFFICER,
FORTIS, INC. MANAGING DIRECTOR OF
FORTIS INTERNATIONAL, N.V.
Dr. Robert M. Gavin INTERIM PRESIDENT, HAVERFORD COLLEGE.
PRIOR TO JULY 1996, PRESIDENT
MACALESTER COLLEGE
Benjamin S. Jaffray CHAIRMAN, SHEFFIELD GROUP, LTD.
Jean L. King PRESIDENT, COMMUNI-KING
Dean C. Kopperud CHIEF EXECUTIVE OFFICER AND DIRECTOR,
FORTIS ADVISERS, INC. PRESIDENT AND
DIRECTOR, FORTIS INVESTORS, INC.
SENIOR VICE PRESIDENT AND DIRECTOR,
FORTIS BENEFITS INSURANCE COMPANY AND
TIME INSURANCE COMPANY
Edward M. Mahoney PRIOR TO JANUARY, 1995, CHAIRMAN AND
CHIEF EXECUTIVE OFFICER, FORTIS
ADVISERS, INC., FORTIS INVESTORS,
INC.
Robb L. Prince FINANCIAL AND EMPLOYEE BENEFIT
CONSULTANT PRIOR TO JULY, 1995, VICE
PRESIDENT AND TREASURER, JOSTENS,
INC.
Leonard J. Santow PRINCIPAL, GRIGGS & SANTOW, INC.
Noel Shadko MARKETING CONSULTANT PRIOR TO MAY,
1996, SENIOR VICE PRESIDENT OF
MARKETING & STRATEGIC PLANNING,
ROLLERBLADE, INC.
Joseph M. Wikler INVESTMENT CONSULTANT AND PRIVATE
INVESTOR PRIOR TO JANUARY, 1994,
DIRECTOR OF RESEARCH, CHIEF
INVESTMENT OFFICER, PRINCIPAL, AND
DIRECTOR, THE ROTHSCHILD CO.
OFFICERS
Dean C. Kopperud
PRESIDENT AND DIRECTOR
Robert W. Beltz, Jr.
VICE PRESIDENT
James S. Byrd
VICE PRESIDENT
Tamara L. Fagely
VICE PRESIDENT AND TREASURER
Howard G. Hudson
VICE PRESIDENT
David A. Peterson
VICE PRESIDENT
Scott R. Plummer
VICE PRESIDENT
Rhonda J. Schwartz
VICE PRESIDENT
Gary N. Yalen
VICE PRESIDENT
Michael J. Radmer
SECRETARY
INVESTMENT MANAGER, REGISTRAR Fortis Advisers, Inc.
AND TRANSFER AGENT BOX 64284, ST. PAUL, MINNESOTA 55164
PRINCIPAL UNDERWRITER Fortis Investors, Inc.
BOX 64284, ST. PAUL, MINNESOTA 55164
CUSTODIAN First Bank National Association
MINNEAPOLIS, MINNESOTA
GENERAL COUNSEL Dorsey & Whitney LLP
MINNEAPOLIS, MINNESOTA
INDEPENDENT AUDITORS KPMG Peat Marwick LLP
MINNEAPOLIS, MINNESOTA
The use of this material is authorized only when preceded or accompanied by a
prospectus.
9
<PAGE>
FORTIS FINANCIAL GROUP
Fortis Financial Group (FFG) provides solutions for customers' financial needs
using mutual funds, annuities and life insurance. Besides our own array of
quality products, we create and deliver customized products for other financial
service providers. Like the Fortis name, which comes from the Latin for strong
and steadfast, we concentrate on the customer relationships we build, the
services we provide, the solutions we offer and the performance we seek.
FFG includes Fortis Advisers, Inc., as established money manager, as well as
Fortis Investors, Inc., a broker dealer with nationwide sales and marketing
influence. The guarantees in our insurance products are underwritten by Fortis
Benefits Insurance Company and Time Insurance Company.
[GRAPHIC]
Fortis Financial Group is part of Fortis, Inc., a financial services company
that provides specialty insurance and investment products to individuals,
businesses, associations and other financial services organizations in the
United States. Fortis, Inc. is part of Fortis, a worldwide group of companies
active in the fields of insurance, banking and investments. Fortis is jointly
owned by Fortis AMEV of The Netherlands and Fortis AG of Belgium.
[GRAPHIC] FOR MORE INFORMATION, CALL YOUR INVESTMENT REPRESENTATIVE OR FORTIS
AT (800) 800-2638.
[LOGO]
FORTIS FINANCIAL GROUP
P.O. BOX 64284
ST. PAUL, MN 55164
FORTIS MONEY FUND
Bulk Rate
U.S. Postage
PAID
Permit No. 3794
Minneapolis, MN
[LOGO] Printed on recycled paper with 40% preconsumer waste and 10% post
consumer waste. Please recycle.
FORTIS-Registered Trademark- and Fortis-Registered Trademark- are registered
servicemarks of Fortis AMEV and Fortis AG.
95379 (5/97)
