<PAGE>
[LOGO]
FORTIS
Solid partners, flexible solutions-SM-
Everyday investing for anyday goals
Fortis Money Fund
semiannual report
March 31, 2000
FORTIS FINANCIAL GROUP
[GRAPHIC]
Fortis Money Fund
<PAGE>
FORTIS MONEY FUND SEMIANNUAL REPORT
CONTENTS
LETTER TO SHAREHOLDERS 1
SCHEDULE OF INVESTMENTS 2
STATEMENT OF ASSETS AND LIABILITIES 3
STATEMENT OF OPERATIONS 3
STATEMENTS OF CHANGES IN NET ASSETS 4
NOTES TO FINANCIAL STATEMENTS 5
BOARD OF DIRECTORS AND OFFICERS 8
OTHER PRODUCTS AND SERVICES 9
- - TOLL-FREE PERSONAL ASSISTANCE
- Shareholder Services
- (800) 800-2000, Ext. 3012
- 7:30 a.m. to 7:00 p.m. CST, M-Th
- 7:30 a.m. to 7:00 p.m. CST, F
- - TOLL-FREE INFORMATION LINE
- For daily account balances,
transaction activity or net asset
value information
- (800) 800-2000, 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) 800-2000.
TO ORDER PROSPECTUSES OR SALES LITERATURE FOR ANY FORTIS PRODUCT, CALL
(800) 800-2000, 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>
PORTFOLIO COMPOSITION BY INDUSTRY AS OF 3/31/2000
EDGAR REPRESENTATION OF DATA POINTS USED IN PRINTED GRAPHIC
<TABLE>
<S> <C>
Diversified Finance 17.4%
Banks 16.8%
Captive Auto Finance 15.6%
Captive Equipment Finance 11.2%
Oil-Refining 9.3%
Brokerage and Investment 8.7%
Utilities-Electric 7.8%
Consumer Finance 6.5%
Industrial 4.4%
Beverage 2.3%
</TABLE>
FORTIS MONEY FUND - SEMIANNUAL REPORT
REVIEW
U.S. financial markets operated within very favorable economic conditions for
most of the last decade and should continue to do so in 2000. Growth of the
economy has been so strong that the Federal Reserve Bank ("the Fed") has become
nervous that the economy will overheat and cause inflation to rise. In an effort
to prevent an increase in the rate of inflation, the Fed raised the federal
funds rate 1.25% in a series of 0.25% moves over the past nine months. Money
market yields benefited from the higher rates because the yields on short-term
securities generally track the federal funds rate very closely. For the six
months ended March 31, 2000, the fund returned 2.54% compared to 2.15% for the
prior six-month period. Yields should continue to rise over the next six months
as higher-yielding securities are added to the portfolio to replace maturing
securities.
The fund continues to place great emphasis on selecting high quality and liquid
securities while looking to target the fund's average maturity at an optimal
length. (Maturity is the length of time between now and the date a security is
repaid.) During the past six months, the fund's average maturity fluctuated
between 25-60 days. Last September, commercial paper issuers began to address
their year-end funding needs much earlier than normal due to their Y2K concerns.
This phenomenon made the yields on longer maturities very attractive. We
responded by lengthening the average maturity to 60 days in order to take
advantage of the higher yields available on longer dated paper. Once year-end
passed (thankfully, with no material computer glitches), we began shortening the
average maturity to 30 days, reflecting our opinion that the market was not
pricing in a high enough probability of rising short-term rates.
OUTLOOK
Short-term rates will continue to rise until the Fed feels that growth has
slowed to a non-inflationary level. Historically, it has taken about twelve
months for higher short-term rates to curtail the speed of economic growth. If
that pattern holds true the economy should begin slowing in the next six months.
Although inflationary pressures have been building over the past few months, we
still expect the lagged effects of higher short-term interest rates to keep
inflation near its current level.
Sincerely,
<TABLE>
<S> <C>
/s/ Dean C. Kopperud /s/ Howard G. Hudson
Dean C. Kopperud Howard G. Hudson
President Vice-President
</TABLE>
1
<PAGE>
FORTIS MONEY FUND
Schedule of Investments
March 31, 2000 (Unaudited)
SHORT-TERM INVESTMENTS-99.94%
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
Standard
Principal Maturity & Poor's
Amount Yield Date Rating Value (a)
---------- -------- ----------- ----------- ------------
<C> <S> <C> <C> <C> <C>
BANKS-16.77%
$8,600,000 Banc One Corp................................ 6.05% 05/01/00 A1 $ 8,557,860
8,800,000 Deutsche Bank AG............................. 6.19% 05/26/00 A1+ 8,718,795
5,000,000 First Union National Bank (d)................ 6.19% 05/17/00 A+ 5,000,000
2,079,947 U.S. Bank N.A. Money Market Variable Rate
Time Deposit............................... 5.83% 04/01/00 A1+ 2,079,947
9,000,000 Wells Fargo & Co............................. 6.19% 05/18/00 A1 8,928,913
------------
33,285,515
------------
BEVERAGE-2.26%
4,500,000 Anheuser Busch Companies..................... 5.92% 04/10/00 A1 4,493,475
------------
BROKERAGE AND INVESTMENT-8.73%
8,600,000 Merrill Lynch & Co., Inc..................... 6.18% 05/17/00 A1+ 8,533,627
8,800,000 Morgan Stanley Dean Witter Corp.............. 6.03% 04/13/00 A1 8,782,693
------------
17,316,320
------------
CAPTIVE AUTO FINANCE-15.63%
8,800,000 DaimlerChrysler Corp......................... 5.99% 04/17/00 A1 8,777,120
5,000,000 Ford Motor Credit Corp....................... 5.95% 04/07/00 A1 4,995,133
3,600,000 General Motors Acceptance Corp............... 5.96% 04/06/00 A1 3,597,085
5,000,000 General Motors Acceptance Corp............... 6.01% 04/24/00 A1 4,981,281
8,700,000 Toyota Motor Credit Corp..................... 6.06% 04/27/00 A1+ 8,662,740
------------
31,013,359
------------
CAPTIVE EQUIPMENT FINANCE-11.14%
4,400,000 IBM Corp..................................... 6.08% 06/15/00 A+ 4,402,559
8,800,000 John Deere Capital Corp...................... 6.18% 06/02/00 A1 8,708,915
9,000,000 PACCAR Financial Corp........................ 6.10% 04/12/00 A1+ 8,983,500
------------
22,094,974
------------
CONSUMER FINANCE-6.54%
4,000,000 American General Finance Corp................ 5.96% 04/04/00 A1 3,998,057
9,000,000 Household Finance Corp....................... 6.10% 04/10/00 A1 8,986,500
------------
12,984,557
------------
DIVERSIFIED FINANCE-17.41%
8,456,000 Associates Corp. Master Variable Rate Note... 6.01% 04/01/00 A1+ 8,456,000
8,700,000 CIT Group, Inc............................... 5.99% 04/28/00 A1 8,661,829
4,000,000 General Electric Capital Corp................ 6.07% 05/17/00 A1+ 3,969,844
4,700,000 General Electric Capital Corp................ 6.17% 05/19/00 A1+ 4,662,212
8,800,000 Prudential Funding Corp...................... 5.97% 04/07/00 A1 8,791,420
------------
34,541,305
------------
INDUSTRIAL-4.36%
8,700,000 Xerox Corp................................... 6.06% 05/11/00 A1 8,643,063
------------
OIL-REFINING-9.30%
9,500,000 Chevron Oil Finance Co....................... 6.09% 04/18/00 A1 9,473,173
9,000,000 Texaco, Inc.................................. 5.92% 04/11/00 A1 8,985,500
------------
18,458,673
------------
UTILITIES-ELECTRIC-7.80%
6,500,000 CSW Credit Corp.............................. 6.00% 04/12/00 A1 6,488,302
9,000,000 Duke Power Co................................ 5.90% 04/05/00 A1 8,994,230
------------
15,482,532
------------
TOTAL INVESTMENTS IN SECURITIES (COST:
$198,313,773) (B).......................... $198,313,773
============
</TABLE>
(a) See Note 1 of accompanying Notes to Financial Statements regarding
valuation of securities.
(b) Also represents cost for federal income tax purposes.
(c) Note: Percentage of investments as shown is the ratio of the total
market value to total net assets.
(d) Variable Rate Security; the yield reported is the rate in effect as of
March 31, 2000.
2
<PAGE>
FORTIS MONEY FUND
Statement of Assets and Liabilities
(Unaudited)
March 31, 2000
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
ASSETS
Short-term investments, as detailed in the accompanying
schedule, at amortized cost (approximates market) (Note 1)... $198,313,773
Cash on deposit with custodian................................. 30,659
Receivables:
Interest and dividends....................................... 195,941
Deferred registration costs (Note 1)......................... 66,719
Prepaid expenses............................................. 3,562
------------
TOTAL ASSETS..................................................... 198,610,654
------------
LIABILITIES
Cash portion of dividends payable.............................. 47,867
Payable for investment advisory and management fees (Note 2)... 101,881
Payable for distribution fees (Note 2)......................... 100
Accounts payable and accrued expenses.......................... 28,883
------------
TOTAL LIABILITIES................................................ 178,731
------------
NET ASSETS
Net proceeds of capital stock, par value $.01 per
share-authorized 50,000,000,000 shares....................... $198,431,923
============
SHARES OUTSTANDING AND NET ASSET VALUE PER SHARE:
Class A shares (based on net assets of $193,366,041 and
193,366,041 shares outstanding)............................. $1.00
------------
Class B shares (based on net assets of $1,747,633 and
1,747,633 shares outstanding)............................... $1.00
------------
Class C shares (based on net assets of $401,619 and 401,619
shares outstanding)......................................... $1.00
------------
Class H shares (based on net assets of $2,916,630 and
2,916,630 shares outstanding)............................... $1.00
------------
</TABLE>
Statement of Operations
For the Six-Month Period Ended March 31, 2000
(Unaudited)
- --------------------------------------------------------------------------------
<TABLE>
<S> <C>
NET INVESTMENT INCOME:
Income
Interest income.............................................. $5,622,522
----------
Expenses:
Investment advisory and management fees (Note 2)............. 577,192
Distribution fees (Class B) (Note 2)......................... 7,191
Distribution fees (Class C) (Note 2)......................... 1,569
Distribution fees (Class H) (Note 2)......................... 10,015
Legal and auditing fees (Note 2)............................. 11,542
Custodian fees............................................... 5,000
Shareholders' notices and reports............................ 28,250
Registration fees (Note 1)................................... 66,842
Directors' fees and expenses................................. 8,850
Transfer agent expenses (Note 2)............................. 84,613
Other........................................................ 3,100
----------
Total expenses................................................. 804,164
----------
NET INVESTMENT INCOME............................................ 4,818,358
----------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS............. $4,818,358
==========
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
3
<PAGE>
FORTIS MONEY FUND
Statement of Changes in Net Assets
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
FOR THE SIX-MONTH
PERIOD ENDED FOR THE
MARCH 31, 2000 YEAR ENDED
(UNAUDITED) SEPTEMBER 30, 1999
----------------- ------------------
<S> <C> <C>
OPERATIONS
Net investment income.......................................... $ 4,818,358 $ 7,183,495
--------------- ---------------
DISTRIBUTIONS TO SHAREHOLDERS:
From net investment income
Class A...................................................... (4,719,045) (7,090,532)
Class B...................................................... (38,062) (28,008)
Class C...................................................... (8,138) (26,108)
Class H...................................................... (53,113) (38,847)
--------------- ---------------
TOTAL DISTRIBUTIONS TO SHAREHOLDERS.............................. (4,818,358) (7,183,495)
--------------- ---------------
CAPITAL STOCK TRANSACTIONS (AT CONSTANT $1.00 NET ASSET VALUE PER
SHARE):
Proceeds from sale of shares
Class A...................................................... 226,323,595 1,129,355,442
Class B...................................................... 3,101,136 1,905,456
Class C...................................................... 1,070,809 46,755,851
Class H...................................................... 3,656,167 3,252,075
Proceeds from shares issued as a result of reinvested dividends
Class A...................................................... 4,397,692 6,418,477
Class B...................................................... 34,905 26,774
Class C...................................................... 7,496 13,579
Class H...................................................... 43,170 36,732
Less cost of repurchase of shares
Class A...................................................... (205,435,405) (1,124,316,309)
Class B...................................................... (2,781,432) (843,716)
Class C...................................................... (2,207,668) (45,952,739)
Class H...................................................... (2,870,418) (1,751,080)
--------------- ---------------
NET INCREASE IN NET ASSETS FROM SHARE TRANSACTIONS............... 25,340,047 14,900,542
--------------- ---------------
TOTAL INCREASE IN NET ASSETS..................................... 25,340,047 14,900,542
NET ASSETS:
Beginning of period............................................ 173,091,876 158,191,334
--------------- ---------------
End of period.................................................. $ 198,431,923 $ 173,091,876
=============== ===============
</TABLE>
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS.
4
<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. 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 within the Fortis Mutual Fund group. 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 under normal market
conditions.
SECURITY TRANSACTIONS AND RELATED INVESTMENT INCOME: Security transactions
are accounted for on trade date. Interest income including amortization of
premium and discount, is recorded on the accrual basis. For the period ended
March 31, 2000, the cost of purchases and proceeds from sales of short-term
securities aggregated $625,905,346 and $600,610,899 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 $26,679 for Class A, $9,942 for Class B, $200 for
Class C and $14,355 for Class H.
The fund also reimburses Fortis Advisers, Inc. for direct transfer agent
expenses such as confirms and check book production and mailing.
Legal fees and expenses aggregating $3,042 for the period ended March 31,
2000, were paid to a law firm of which the secretary of the fund is a
partner.
5
<PAGE>
FORTIS MONEY FUND
Notes to Financial Statements
(Unaudited) (continued)
- --------------------------------------------------------------------------------
3. FINANCIAL HIGHLIGHTS: Selected per share historical data for each of the
Portfolios was as follows:
<TABLE>
<CAPTION>
Class A
---------------------------------------------------------------
Year Ended September 30,
---------------------------------------------------------------
2000** 1999 1998 1997 1996 1995
<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............... .03 .04 .05 .05 .05 .05
-------- -------- -------- -------- -------- --------
Distributions to shareholders:
From investment income - net.......... (.03) (.04) (.05) (.05) (.05) (.05)
-------- -------- -------- -------- -------- --------
Net asset value, end of period.......... $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00
-------- -------- -------- -------- -------- --------
Total return @.......................... 2.54% 4.40% 4.88% 4.74% 4.74% 5.03%
Net assets end of period (000s
omitted).............................. $193,366 $168,080 $156,623 $126,547 $120,375 $105,472
Ratio of expenses to average daily net
assets................................ .82%* .83% .86% .88% .91% .91%
Ratio of net investment income to
average daily net assets.............. 5.02%* 4.29% 4.77% 4.64% 4.67% 4.91%
</TABLE>
<TABLE>
<CAPTION>
Class B
-----------------------------------------
Year Ended September 30,
-----------------------------------------
2000** 1999 1998 1997 1996+++
<S> <C> <C> <C> <C> <C>
- ------------------------------------------------------------------------------------
Net asset value, beginning of period.... $1.00 $ 1.00 $1.00 $1.00 $1.00
------ ------ ----- ----- -----
Operations:
Investment income - net............... .02 .04 .04 .04 .04
------ ------ ----- ----- -----
Distributions to shareholders:
From investment income - net.......... (.02) (.04) (.04) (.04) (.04)
------ ------ ----- ----- -----
Net asset value, end of period.......... $1.00 $ 1.00 $1.00 $1.00 $1.00
------ ------ ----- ----- -----
Total return @.......................... 2.14% 3.56% 4.06% 3.97% 4.11%
Net assets end of period (000s
omitted).............................. $1,748 $1,393 $ 305 $ 55 $ 28
Ratio of expenses to average daily net
assets................................ 1.62%* 1.63% 1.66% 1.68% 1.71%*
Ratio of net investment income to
average daily net assets.............. 4.22%* 3.48% 4.00% 3.94% 3.99%*
</TABLE>
* Annualized.
** For the six-month period ended March 31, 2000.
+++ For the period from October 9, 1995 (date of first investment) to
September 30, 1996.
@ These are the portfolio's total returns during the periods, including
reinvestment of all distributions.
6
<PAGE>
- --------------------------------------------------------------------------------
3. FINANCIAL HIGHLIGHTS (continued):
<TABLE>
<CAPTION>
Class C
------------------------------------------------
Year Ended September 30,
------------------------------------------------
2000** 1999 1998 1997 1996 1995++
<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 .04 .04 .04 .05 .01
------ ------ ----- ----- ----- -----
Distributions to shareholders:
From investment income - net.......... (.02) (.04) (.04) (.04) (.05) (.01)
------ ------ ----- ----- ----- -----
Net asset value, end of period.......... $1.00 $ 1.00 $1.00 $1.00 $1.00 $1.00
------ ------ ----- ----- ----- -----
Total return @.......................... 2.12% 3.57% 4.12% 4.45% 4.97% 1.33%
Net assets end of period (000s
omitted).............................. $ 402 $1,531 $ 714 $ 10 $ 1 $ 9
Ratio of expenses to average daily net
assets................................ 1.62%* 1.63% 1.66% 1.68% 1.46%(a) 1.71%*
Ratio of net investment income to
average daily net assets.............. 4.22%* 3.48% 4.08% 3.98% 4.33%(a) 4.46%*
</TABLE>
<TABLE>
<CAPTION>
Class H
-----------------------------------------------
Year Ended September 30,
-----------------------------------------------
2000** 1999 1998 1997 1996 1995+
<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 .04 .04 .04 .04 .02
------ ------ ----- ----- ----- -----
Distributions to shareholders:
From investment income - net.......... (.02) (.04) (.04) (.04) (.04) (.02)
------ ------ ----- ----- ----- -----
Net asset value, end of period.......... $1.00 $ 1.00 $1.00 $1.00 $1.00 $1.00
------ ------ ----- ----- ----- -----
Total return @.......................... 2.12% 3.55% 4.07% 4.06% 4.04% 2.52%
Net assets end of period (000s
omitted).............................. $2,917 $2,088 $ 550 $ 627 $ 60 $ 122
Ratio of expenses to average daily net
assets................................ 1.62%* 1.63% 1.66% 1.68% 1.71% 1.71%*
Ratio of net investment income to
average daily net assets.............. 4.22%* 3.51% 3.96% 4.02% 4.03% 4.43%*
</TABLE>
* Annualized.
** For the six-month period ended March 31, 2000.
+ For the period from March 16, 1995 (date of first investment) to
September 30, 1995.
++ For the period from June 14, 1995 (date of first investment) to
September 30, 1995.
@ These are the portfolio's total returns during the periods, including
reinvestment of all distributions.
(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.
7
<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 PRESIDENT, CRANBROOK EDUCATION
COMMUNITY. PRIOR TO JULY 1996,
PRESIDENT MACALESTER COLLEGE
Jean L. King PRESIDENT, COMMUNI-KING
Dean C. Kopperud CHIEF EXECUTIVE OFFICER AND DIRECTOR,
FORTIS ADVISERS, INC. PRESIDENT AND
DIRECTOR, FORTIS INVESTORS, INC.
PRESIDENT - FORTIS FINANCIAL GROUP,
FORTIS BENEFITS INSURANCE COMPANY AND
SENIOR VICE PRESIDENT, FORTIS
INSURANCE COMPANY
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 Schenker 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
Peggy L. Ettestad
VICE PRESIDENT
Tamara L. Fagely
VICE PRESIDENT AND TREASURER
Howard G. Hudson
VICE PRESIDENT
Dickson W. Lewis
VICE PRESIDENT
Lucinda S. Mezey
VICE PRESIDENT
David A. Peterson
VICE PRESIDENT
Scott R. Plummer
VICE PRESIDENT
Rhonda J. Schwartz
VICE PRESIDENT
Melinda S. Urion
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 U.S. Bank National Association
MINNEAPOLIS, MINNESOTA
GENERAL COUNSEL Dorsey & Whitney LLP
MINNEAPOLIS, MINNESOTA
INDEPENDENT AUDITORS KPMG LLP
MINNEAPOLIS, MINNESOTA
The use of this material is authorized only when preceded or accompanied by a
prospectus.
8
<PAGE>
FORTIS FINANCIAL GROUP'S OTHER PRODUCTS AND SERVICES
MUTUAL Fortis Bond Funds MONEY FUND
FUNDS/PORTFOLIOS U.S. GOVERNMENT
CONVENIENT ACCESS TO SECURITIES FUND
A BROAD RANGE OF TAX-FREE NATIONAL
SECURITIES PORTFOLIO
TAX-FREE MINNESOTA
PORTFOLIO
STRATEGIC INCOME FUND
HIGH YIELD PORTFOLIO
Fortis Stock Funds ASSET ALLOCATION
PORTFOLIO
VALUE FUND
GROWTH & INCOME FUND
CAPITAL FUND
GLOBAL GROWTH PORTFOLIO
GROWTH FUND
INTERNATIONAL EQUITY
PORTFOLIO
CAPITAL APPRECIATION
PORTFOLIO
FIXED AND VARIABLE Fortis Opportunity Fixed FIXED ACCOUNT
ANNUITIES & Variable Annuity MONEY MARKET SUBACCOUNT
TAX-DEFERRED Masters Variable Annuity U.S. GOVERNMENT
INVESTING SECURITIES SUBACCOUNT
Empower Variable DIVERSIFIED INCOME
Annuity SUBACCOUNT
MULTISECTOR BOND
SUBACCOUNT
HIGH YIELD SUBACCOUNT
GLOBAL ASSET ALLOCATION
SUBACCOUNT
ASSET ALLOCATION
SUBACCOUNT
AMERICAN LEADERS
SUBACCOUNT
VALUE SUBACCOUNT
CAPITAL OPPORTUNITIES
SUBACCOUNT
GROWTH & INCOME
SUBACCOUNT
S&P 500 INDEX SUBACCOUNT
BLUE CHIP STOCK II
SUBACCOUNT
BLUE CHIP STOCK
SUBACCOUNT
INTERNATIONAL STOCK
SUBACCOUNT
MID CAP STOCK SUBACCOUNT
SMALL CAP VALUE
SUBACCOUNT
GLOBAL GROWTH SUBACCOUNT
GLOBAL EQUITY SUBACCOUNT
LARGE CAP GROWTH
SUBACCOUNT
INVESTORS GROWTH
SUBACCOUNT
GROWTH STOCK SUBACCOUNT
AGGRESSIVE GROWTH
SUBACCOUNT
Fortune Fixed Annuities SINGLE PREMIUM ANNUITY
FLEXIBLE PREMIUM ANNUITY
Income Annuities GUARANTEED FOR LIFE
GUARANTEED FOR A
SPECIFIED PERIOD
LIFE Wall Street Series FIXED ACCOUNT
INSURANCE PROTECTION Variable Universal Life MONEY MARKET SUBACCOUNT
AND TAX-DEFERRED Insurance U.S. GOVERNMENT
INVESTMENT SECURITIES SUBACCOUNT
OPPORTUNITY DIVERSIFIED INCOME
SUBACCOUNT
MULTISECTOR BOND
SUBACCOUNT
HIGH YIELD SUBACCOUNT
GLOBAL ASSET ALLOCATION
SUBACCOUNT
ASSET ALLOCATION
SUBACCOUNT
AMERICAN LEADERS
SUBACCOUNT
VALUE SUBACCOUNT
CAPITAL OPPORTUNITIES
SUBACCOUNT
GROWTH & INCOME
SUBACCOUNT
S&P 500 INDEX SUBACCOUNT
BLUE CHIP STOCK II
SUBACCOUNT
BLUE CHIP STOCK
SUBACCOUNT
INTERNATIONAL STOCK
SUBACCOUNT
MID CAP STOCK SUBACCOUNT
SMALL CAP VALUE
SUBACCOUNT
GLOBAL GROWTH SUBACCOUNT
GLOBAL EQUITY SUBACCOUNT
LARGE CAP GROWTH
SUBACCOUNT
INVESTORS GROWTH
SUBACCOUNT
GROWTH STOCK SUBACCOUNT
AGGRESSIVE GROWTH
SUBACCOUNT
Adaptable Life
Universal Life
FORTIS FINANCIAL GROUP manages and distributes mutual funds, annuities and life
insurance products. The mutual funds, variable life and variable annuity
products are distributed through FORTIS INVESTORS, INC. and managed by FORTIS
ADVISERS, INC. The insurance products are issued by FORTIS BENEFITS INSURANCE
COMPANY, FIRST FORTIS LIFE INSURANCE COMPANY and FORTIS INSURANCE COMPANY.
FOR MORE COMPLETE INFORMATION, INCLUDING CHARGES AND EXPENSES, SEND FOR A
PROSPECTUS. WRITE TO: FORTIS INVESTORS, INC., P.O. BOX 64284, ST. PAUL, MN
55164. READ IT CAREFULLY BEFORE INVESTING OR SENDING MONEY.
9
<PAGE>
[LOGO]
FORTIS
Solid partners, flexible solutions-SM-
Invest from a position of DISCIPLINED GROWTH
When you're looking for a disciplined growth approach to mutual fund
investing, with a strict adherence to investment style, turn to Fortis. Our
expert fund managers carefully and cautiously follow stringent buy and sell
disciplines.
This disciplined approach to managing your money starts with rigorous,
company-by-company research . It's the platform upon which we carefully craft
each fund portfolio, spread risk through diversification and seek rewards
through long-term performance.
FORTIS AND DISCIPLINE: IT'S A POWERFUL COMBINATION.
- --------------------------------------------------------------------------------
FORTIS MEANS STEADFAST
Fortis means "steadfast" in Latin. The worldwide Fortis family of companies
lives up to the name, and has each day since the 1800s, with flexible
solutions tailored to our customers' individual needs. We deliver the
stability you require today ... and tomorrow. You can count on it.
Fortis Financial Group provides a wide selection of investment products
including annuities, life insurance and mutual funds. We're part of Fortis,
Inc., a financial services company that provides speciality insurance and
investment products to individuals, businesses, associations and other
financial services organizations throughout the United States.
Fortis, Inc. is part of the international Fortis group, which operates in the
fields of insurance, banking and investments. Fortis' listed companies are
Fortis (B) of Belgium and Fortis (NL) of the Netherlands.
Fortis: Steadfast for YOU!
FORTIS FINANCIAL GROUP
Fund management offered through
Fortis Advisors, Inc. since 1949
Securities offered through Fortis
Investors, Inc., member NASD, SIPC
Insurance products issued by
Fortis Benefits Insurance Company &
Fortis Insurance Company
P.O. Box 64284, St. Paul, MN 55164-0284
Telephone (800) 800-2000
http://www.ffg.us.fortis.com
- --------------------------------------------------------------------------------
FORTIS FINANCIAL GROUP ---------------
P.O. Box 64284 Bulk Rate
St. Paul, MN 55164-0284 U.S. Postage
PAID
Permit No. 3794
Fortis Money Fund Minneapolis, MN
---------------
[LOGO] Printed on recycled paper with
forty percent preconsumer waste and ten percent
post consumer waste. Please recycle.
The Fortis brandmark and Fortis-SM- are servicemarks
of Fortis (B) and Fortis (NL).
95379-C- Fortis, Inc. 5/00
