<PAGE> PAGE 1
000 B000000 09/30/96
000 C000000 0000787623
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 IDEX SERIES FUND
001 B000000 811-4556
001 C000000 8135856565
002 A000000 201 HIGHLAND AVENUE
002 B000000 LARGO
002 C000000 FL
002 D010000 34640
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 11
007 C010100 1
007 C020100 IDEX GROWTH PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 IDEX TAX-EXEMPT PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 IDEX INCOME PLUS PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 IDEX GLOBAL PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 IDEX FLEXILE INCOME PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 IDEX AGGRESSIVE GROWTH PORTFOLIO
007 C030600 N
007 C010700 7
007 C020700 IDEX CAPITAL APPRECIATION PORTFOLIO
007 C030700 N
007 C010800 8
007 C020800 IDEX EQUITY-INCOME PORTFOLIO
007 C030800 N
007 C010900 9
007 C020900 IDEX BALANCED PORTFOLIO
007 C030900 N
007 C011000 10
007 C021000 IDEX TACTICAL ASSET ALLOCATION PORTFOLIO
<PAGE> PAGE 2
007 C031000 N
007 C011100 11
007 C021100 IDEX C.A.S.E. PORTFOLIO
007 C031100 N
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 INTERSECURITIES, INC.
008 B00AA01 A
008 C00AA01 801-38618
008 D01AA01 LARGO
008 D02AA01 FL
008 D03AA01 34640
008 A00AA02 IDEX MANAGEMENT, INC.
008 B00AA02 A
008 C00AA02 801-23624
008 D01AA02 LARGO
008 D02AA02 FL
008 D03AA02 34640
008 A00AA03 JANUS CAPITAL CORP
008 B00AA03 S
008 C00AA03 801-13991
008 D01AA03 DENVER
008 D02AA03 CO
008 D03AA03 80206
008 A00AA04 DEAN INVESTMENT ASSOCIATES
008 B00AA04 S
008 C00AA04 801-99999
008 D01AA04 DAYTON
008 D02AA04 OH
008 D03AA04 45423
008 A00AA05 FRED ALGER MANAGEMENT, INC.
008 B00AA05 S
008 C00AA05 801-06709
008 D01AA05 JERSEY CITY
008 D02AA05 NJ
008 D03AA05 07302
008 A00AA06 LUTHER KING CAPITAL MANAGEMENT CORPORATION
008 B00AA06 S
008 C00AA06 801-14458
008 D01AA06 FT. WORTH
008 D02AA06 TX
008 D03AA06 76102
008 A00AA07 AEGON USA INVESTMENT MANAGEMENT, INC.
008 B00AA07 S
<PAGE> PAGE 3
008 C00AA07 801-41051
008 D01AA07 CEDAR RAPIDS
008 D02AA07 IA
008 D03AA07 52499
008 A00AA08 C.A.S.E. MANAGEMENT, INC.
008 B00AA08 S
008 C00AA08 801-40305
008 D01AA08 BOCA RATON
008 D02AA08 FL
008 D03AA08 33431
011 A00AA01 INTERSECURITIES, INC.
011 B00AA01 8-33249
011 C01AA01 LARGO
011 C02AA01 FL
011 C03AA01 34640
012 A00AA01 IDEX INVESTOR SERVICES, INC.
012 B00AA01 84-1597
012 C01AA01 LARGO
012 C02AA01 FL
012 C03AA01 34640
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
014 A00AA01 AEGON USA SECURITIES, INC.
014 B00AA01 8-09158
014 A00AA02 FRED ALGER AND COMPANY, INC.
014 B00AA02 8-15900
014 A00AA03 ZAHORIK, INC.
014 B00AA03 8-17285
014 A00AA04 MARINER FINANCIAL, INC.
014 B00AA04 8-17574
014 A00AA05 INTERSECUTIES, INC.
014 B00AA05 8-33249
014 A00AA06 FIDUCIARY FINANCIAL SERVICES, INC.
014 B00AA06 8-13594
014 A00AA07 DST SECURITIES, INC.
014 B00AA07 8-24385
014 A00AA08 DIVERSIFIED INVESTORS SECURITIES CORPORATION
014 B00AA08 8-45671
014 A00AA09 FEDERATED SECURITIES, INC.
014 B00AA09 8-15561
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
015 A00AA02 THE CHASE MANHATTAN BANK NA
015 B00AA02 S
015 C01AA02 NEW YORK
<PAGE> PAGE 4
015 C02AA02 NY
015 C03AA02 10036
015 E04AA02 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 13
019 C00AA00 IDEXGROUPE
020 A000001 INSTINET
020 B000001 13-2657032
020 C000001 93
020 A000002 LAZARD FRERES
020 B000002 13-5545100
020 C000002 45
020 A000003 FRED ALGER
020 B000003 13-2665689
020 C000003 42
020 A000004 JEFFERIES AND COMPANY
020 B000004 95-2622900
020 C000004 35
020 A000005 CS FIRST BOSTON
020 B000005 13-5654855
020 C000005 31
020 A000006 ROBERTSON STEPHENSON
020 B000006 58-1472560
020 C000006 27
020 A000007 DEAN WITTER, REYNOLDS
020 B000007 94-1671384
020 C000007 22
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518466
020 C000008 19
020 A000009 CHARLES SCHWAB
020 B000009 94-1787782
020 C000009 19
020 A000010 NEEDHAM & COMPANY
020 B000010 13-3255839
020 C000010 19
021 000000 566
022 A000001 PRUDENTIAL FUNDING
022 B000001 22-2231168
022 C000001 2785780
022 D000001 2749890
022 A000002 GENERAL ELECTRIC CAPITAL CORP
022 B000002 13-1500700
022 C000002 1787852
022 D000002 1769330
022 A000003 HOUSEHOLD FINANCE
022 B000003 36-1239445
022 C000003 1716365
022 D000003 1682200
022 A000004 AMERICAN EXPRESS
<PAGE> PAGE 5
022 B000004 11-1988350
022 C000004 449215
022 D000004 449310
022 A000005 FORD MOTOR CREDIT
022 B000005 38-1612444
022 C000005 403744
022 D000005 404180
022 A000006 GOLDMAN SACHS
022 B000006 13-5108880
022 C000006 373964
022 D000006 327575
022 A000007 MERRILL LYNCH
022 B000007 13-5674085
022 C000007 214556
022 D000007 194862
022 A000008 HSBC SECURITIES
022 B000008 13-2650272
022 C000008 182115
022 D000008 191364
022 A000009 ASSOCIATE CORP OF NORTH AMERICA
022 B000009 74-1494554
022 C000009 138198
022 D000009 138225
022 A000010 UNION BANK OF SWITZERLAND
022 B000010 13-2932996
022 C000010 77171
022 D000010 74571
023 C000000 9061632
023 D000000 8536540
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 Y
040 00AA00 Y
041 00AA00 Y
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
<PAGE> PAGE 6
061 00AA00 500
077 A000000 Y
077 B000000 Y
077 C000000 Y
078 000000 N
080 A00AA00 ST PAUL FIRE AND MARINE INSURANCE COMPANY
080 C00AA00 11000
081 B00AA00 49
082 A00AA00 Y
082 B00AA00 50
083 A00AA00 Y
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 000100 Y
025 A000101 MERRILL LYNCH AND COMPANY
025 B000101 13-5674085
025 C000101 E
025 D000101 24465
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 10091
028 A020100 0
028 A030100 0
028 A040100 8442
028 B010100 7314
028 B020100 0
028 B030100 0
028 B040100 8799
028 C010100 9536
028 C020100 0
028 C030100 0
<PAGE> PAGE 7
028 C040100 9602
028 D010100 9384
028 D020100 0
028 D030100 0
028 D040100 12266
028 E010100 11168
028 E020100 0
028 E030100 0
028 E040100 10815
028 F010100 407434
028 F020100 47600
028 F030100 0
028 F040100 8024
028 G010100 454927
028 G020100 47600
028 G030100 0
028 G040100 57948
028 H000100 22966
029 000100 Y
030 A000100 2331
030 B000100 5.50
030 C000100 0.00
031 A000100 297
031 B000100 0
032 000100 676
033 000100 1358
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 70
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 30
043 000100 1919
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 750000
048 A020100 1.000
048 B010100 250000
048 B020100 0.900
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
<PAGE> PAGE 8
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 1000000
048 K020100 0.850
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
<PAGE> PAGE 9
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 571131
071 B000100 322623
071 C000100 504015
071 D000100 72
072 A000100 6
072 B000100 5513
072 C000100 3170
072 D000100 0
072 E000100 0
072 F000100 2730
072 G000100 2730
072 H000100 0
072 I000100 1596
072 J000100 79
072 K000100 0
072 L000100 0
072 M000100 46
072 N000100 92
072 O000100 0
072 P000100 0
<PAGE> PAGE 10
072 Q000100 0
072 R000100 0
072 S000100 0
072 T000100 1919
072 U000100 0
072 V000100 0
072 W000100 688
072 X000100 9880
072 Y000100 0
072 Z000100 -1197
072AA000100 71706
072BB000100 0
072CC010100 223454
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 116218
073 A010100 0.0000
073 A020100 0.0000
073 B000100 5.1779
073 C000100 0.0000
074 A000100 46
074 B000100 65
074 C000100 175204
074 D000100 28806
074 E000100 39270
074 F000100 929905
074 G000100 0
074 H000100 0
074 I000100 443
074 J000100 0
074 K000100 0
074 L000100 2051
074 M000100 38
074 N000100 1175828
074 O000100 4600
074 P000100 201
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 2255
074 S000100 0
074 T000100 1168772
074 U010100 25761
074 U020100 510
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 100635
074 Y000100 0
<PAGE> PAGE 11
075 A000100 0
075 B000100 1118189
076 000100 0.00
024 000200 N
028 A010200 272
028 A020200 73
028 A030200 0
028 A040200 474
028 B010200 90
028 B020200 70
028 B030200 0
028 B040200 515
028 C010200 66
028 C020200 70
028 C030200 0
028 C040200 389
028 D010200 119
028 D020200 68
028 D030200 0
028 D040200 247
028 E010200 200
028 E020200 70
028 E030200 0
028 E040200 572
028 F010200 665
028 F020200 68
028 F030200 0
028 F040200 503
028 G010200 1413
028 G020200 419
028 G030200 0
028 G040200 2700
028 H000200 528
029 000200 Y
030 A000200 59
030 B000200 4.75
030 C000200 0.00
031 A000200 9
031 B000200 0
032 000200 17
033 000200 33
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 70
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 30
043 000200 95
044 000200 0
<PAGE> PAGE 12
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.600
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
055 A000200 Y
055 B000200 N
056 000200 N
057 000200 N
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 95.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 20.8
064 A000200 Y
<PAGE> PAGE 13
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 N
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 18669
071 B000200 22088
071 C000200 26275
071 D000200 71
072 A000200 6
072 B000200 1564
072 C000200 0
072 D000200 0
072 E000200 0
<PAGE> PAGE 14
072 F000200 80
072 G000200 80
072 H000200 0
072 I000200 40
072 J000200 19
072 K000200 0
072 L000200 0
072 M000200 1
072 N000200 50
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 0
072 T000200 95
072 U000200 0
072 V000200 0
072 W000200 27
072 X000200 392
072 Y000200 124
072 Z000200 1296
072AA000200 222
072BB000200 0
072CC010200 3
072CC020200 0
072DD010200 1288
072DD020200 26
072EE000200 164
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0685
073 C000200 0.0000
074 A000200 774
074 B000200 0
074 C000200 0
074 D000200 24503
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 979
074 K000200 0
074 L000200 614
074 M000200 1
074 N000200 26871
074 O000200 997
074 P000200 4
074 Q000200 0
074 R010200 0
074 R020200 0
<PAGE> PAGE 15
074 R030200 0
074 R040200 66
074 S000200 0
074 T000200 25804
074 U010200 2192
074 U020200 80
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 1274
074 Y000200 0
075 A000200 0
075 B000200 26583
076 000200 0.00
024 000300 Y
025 A000301 LEHMAN BROTHERS HOLDINGS, INC
025 B000301 13-2518466
025 C000301 D
025 D000301 1981
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 582
028 A020300 274
028 A030300 0
028 A040300 1018
028 B010300 718
028 B020300 279
028 B030300 0
028 B040300 1437
028 C010300 140
028 C020300 272
028 C030300 0
028 C040300 904
028 D010300 720
028 D020300 283
028 D030300 0
028 D040300 970
028 E010300 454
028 E020300 293
028 E030300 0
028 E040300 922
028 F010300 486
028 F020300 290
028 F030300 0
028 F040300 819
028 G010300 3101
<PAGE> PAGE 16
028 G020300 1690
028 G030300 0
028 G040300 6070
028 H000300 1904
029 000300 Y
030 A000300 197
030 B000300 4.75
030 C000300 0.00
031 A000300 30
031 B000300 0
032 000300 56
033 000300 111
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 70
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 30
043 000300 259
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.600
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
055 A000300 Y
055 B000300 N
056 000300 N
<PAGE> PAGE 17
057 000300 N
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.1
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 3.5
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 90.3
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 9.1
064 A000300 N
064 B000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 N
070 N020300 N
<PAGE> PAGE 18
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 46067
071 B000300 40298
071 C000300 61094
071 D000300 66
072 A000300 6
072 B000300 5573
072 C000300 86
072 D000300 0
072 E000300 0
072 F000300 207
072 G000300 207
072 H000300 0
072 I000300 127
072 J000300 14
072 K000300 0
072 L000300 0
072 M000300 2
072 N000300 53
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 259
072 U000300 0
072 V000300 0
072 W000300 52
072 X000300 921
072 Y000300 0
072 Z000300 4738
072AA000300 782
072BB000300 0
072CC010300 0
072CC020300 491
072DD010300 4560
072DD020300 162
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 1
074 B000300 91
<PAGE> PAGE 19
074 C000300 2400
074 D000300 61982
074 E000300 2500
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 614
074 K000300 0
074 L000300 1856
074 M000300 0
074 N000300 69444
074 O000300 600
074 P000300 37
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 97
074 S000300 0
074 T000300 68710
074 U010300 6345
074 U020300 258
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 4079
074 Y000300 0
075 A000300 0
075 B000300 69004
076 000300 0.00
024 000400 N
028 A010400 7333
028 A020400 0
028 A030400 0
028 A040400 2045
028 B010400 4722
028 B020400 0
028 B030400 0
028 B040400 2280
028 C010400 5101
028 C020400 0
028 C030400 0
028 C040400 951
028 D010400 6906
028 D020400 0
028 D030400 0
028 D040400 4686
028 E010400 7102
028 E020400 0
028 E030400 0
<PAGE> PAGE 20
028 E040400 3003
028 F010400 6032
028 F020400 0
028 F030400 0
028 F040400 2675
028 G010400 37195
028 G020400 0
028 G030400 0
028 G040400 15641
028 H000400 17822
029 000400 Y
030 A000400 1077
030 B000400 5.50
030 C000400 0.00
031 A000400 139
031 B000400 0
032 000400 312
033 000400 626
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 70
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 30
043 000400 436
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 750000
048 A020400 1.000
048 B010400 250000
048 B020400 0.900
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
<PAGE> PAGE 21
048 J020400 0.000
048 K010400 1000000
048 K020400 0.850
055 A000400 Y
055 B000400 N
056 000400 N
057 000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 Y
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
<PAGE> PAGE 22
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 60257
071 B000400 53039
071 C000400 109056
071 D000400 55
072 A000400 6
072 B000400 211
072 C000400 1367
072 D000400 0
072 E000400 0
072 F000400 565
072 G000400 566
072 H000400 0
072 I000400 409
072 J000400 199
072 K000400 0
072 L000400 0
072 M000400 5
072 N000400 56
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 0
072 S000400 0
072 T000400 436
072 U000400 0
072 V000400 0
072 W000400 139
072 X000400 2375
072 Y000400 0
072 Z000400 -797
072AA000400 15721
072BB000400 0
072CC010400 9941
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 3252
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.6239
073 C000400 0.0000
<PAGE> PAGE 23
074 A000400 11
074 B000400 73
074 C000400 4850
074 D000400 0
074 E000400 4257
074 F000400 134177
074 G000400 0
074 H000400 0
074 I000400 478
074 J000400 387
074 K000400 0
074 L000400 780
074 M000400 92
074 N000400 145105
074 O000400 118
074 P000400 179
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 380
074 S000400 0
074 T000400 144428
074 U010400 6375
074 U020400 384
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 16914
074 Y000400 0
075 A000400 0
075 B000400 113076
076 000400 0.00
024 000500 N
028 A010500 182
028 A020500 78
028 A030500 0
028 A040500 952
028 B010500 156
028 B020500 77
028 B030500 0
028 B040500 478
028 C010500 261
028 C020500 85
028 C030500 0
028 C040500 275
028 D010500 208
028 D020500 74
028 D030500 0
028 D040500 430
028 E010500 192
<PAGE> PAGE 24
028 E020500 79
028 E030500 0
028 E040500 125
028 F010500 106
028 F020500 80
028 F030500 0
028 F040500 342
028 G010500 1105
028 G020500 473
028 G030500 0
028 G040500 2602
028 H000500 443
029 000500 Y
030 A000500 42
030 B000500 4.75
030 C000500 0.00
031 A000500 6
031 B000500 0
032 000500 12
033 000500 24
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 70
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 30
043 000500 74
044 000500 0
055 A000500 Y
055 B000500 N
056 000500 N
057 000500 N
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 4.4
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 8.9
062 N000500 0.0
062 O000500 0.0
062 P000500 85.1
062 Q000500 0.0
<PAGE> PAGE 25
062 R000500 0.0
063 A000500 0
063 B000500 9.5
064 A000500 Y
064 B000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 Y
070 E020500 Y
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 22410
071 B000500 23791
071 C000500 18271
071 D000500 135
072 A000500 6
072 B000500 1610
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 87
<PAGE> PAGE 26
072 G000500 87
072 H000500 0
072 I000500 51
072 J000500 23
072 K000500 0
072 L000500 0
072 M000500 1
072 N000500 54
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 0
072 S000500 0
072 T000500 74
072 U000500 0
072 V000500 0
072 W000500 29
072 X000500 406
072 Y000500 41
072 Z000500 1245
072AA000500 718
072BB000500 0
072CC010500 0
072CC020500 710
072DD010500 1157
072DD020500 50
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 4
074 B000500 0
074 C000500 820
074 D000500 17333
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 504
074 K000500 0
074 L000500 406
074 M000500 1
074 N000500 19068
074 O000500 500
074 P000500 15
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
<PAGE> PAGE 27
074 R040500 111
074 S000500 0
074 T000500 18442
074 U010500 1912
074 U020500 96
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 1670
074 Y000500 0
075 A000500 0
075 B000500 19383
076 000500 0.00
024 000600 Y
025 A000601 CHARLES SCHWAB CORP
025 B000601 94-1787782
025 C000601 E
025 D000601 115
025 D000602 0
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 1810
028 A020600 0
028 A030600 0
028 A040600 1330
028 B010600 1735
028 B020600 0
028 B030600 0
028 B040600 1027
028 C010600 944
028 C020600 0
028 C030600 0
028 C040600 587
028 D010600 1623
028 D020600 0
028 D030600 0
028 D040600 1041
028 E010600 1248
028 E020600 0
028 E030600 0
028 E040600 1380
028 F010600 1162
028 F020600 0
028 F030600 0
028 F040600 614
028 G010600 8521
028 G020600 0
<PAGE> PAGE 28
028 G030600 0
028 G040600 5980
028 H000600 4921
029 000600 Y
030 A000600 546
030 B000600 5.50
030 C000600 0.00
031 A000600 66
031 B000600 0
032 000600 160
033 000600 320
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 70
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 30
043 000600 98
044 000600 0
055 A000600 Y
055 B000600 N
056 000600 N
057 000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
<PAGE> PAGE 29
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 N
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 32002
071 B000600 27998
071 C000600 21962
071 D000600 127
072 A000600 6
072 B000600 60
072 C000600 99
072 D000600 0
072 E000600 0
072 F000600 113
072 G000600 114
072 H000600 0
072 I000600 142
072 J000600 22
072 K000600 0
072 L000600 0
072 M000600 3
072 N000600 74
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 0
072 S000600 0
<PAGE> PAGE 30
072 T000600 98
072 U000600 0
072 V000600 0
072 W000600 42
072 X000600 608
072 Y000600 170
072 Z000600 -279
072AA000600 0
072BB000600 1319
072CC010600 743
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 1314
073 A010600 0.0000
073 A020600 0.0000
073 B000600 1.0219
073 C000600 0.0000
074 A000600 0
074 B000600 1072
074 C000600 1499
074 D000600 0
074 E000600 0
074 F000600 24029
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 353
074 K000600 0
074 L000600 112
074 M000600 0
074 N000600 27065
074 O000600 861
074 P000600 7
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 69
074 S000600 0
074 T000600 26128
074 U010600 1517
074 U020600 144
074 V010600 0.00
074 V020600 0.00
074 W000600 0.0000
074 X000600 6321
074 Y000600 0
075 A000600 0
075 B000600 22676
076 000600 0.00
<PAGE> PAGE 31
024 000700 N
028 A010700 2887
028 A020700 0
028 A030700 0
028 A040700 1774
028 B010700 3607
028 B020700 0
028 B030700 0
028 B040700 1311
028 C010700 1781
028 C020700 19
028 C030700 0
028 C040700 286
028 D010700 2418
028 D020700 0
028 D030700 0
028 D040700 372
028 E010700 2759
028 E020700 0
028 E030700 0
028 E040700 1197
028 F010700 2864
028 F020700 0
028 F030700 0
028 F040700 2232
028 G010700 16315
028 G020700 19
028 G030700 0
028 G040700 7171
028 H000700 6444
029 000700 Y
030 A000700 456
030 B000700 5.50
030 C000700 0.00
031 A000700 61
031 B000700 0
032 000700 131
033 000700 264
042 A000700 0
042 B000700 0
042 C000700 0
042 D000700 70
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 30
043 000700 68
044 000700 0
055 A000700 N
055 B000700 N
056 000700 N
<PAGE> PAGE 32
057 000700 N
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
070 A010700 Y
070 A020700 N
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 Y
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 Y
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 Y
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 N
070 P020700 N
<PAGE> PAGE 33
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 33838
071 B000700 21962
071 C000700 13664
071 D000700 161
072 A000700 6
072 B000700 52
072 C000700 162
072 D000700 0
072 E000700 0
072 F000700 71
072 G000700 71
072 H000700 0
072 I000700 62
072 J000700 44
072 K000700 0
072 L000700 0
072 M000700 1
072 N000700 65
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 0
072 S000700 0
072 T000700 68
072 U000700 0
072 V000700 0
072 W000700 22
072 X000700 405
072 Y000700 123
072 Z000700 -67
072AA000700 431
072BB000700 0
072CC010700 2216
072CC020700 0
072DD010700 37
072DD020700 2
072EE000700 591
073 A010700 0.0000
073 A020700 0.0000
073 B000700 0.0168
073 C000700 0.0000
074 A000700 225
074 B000700 0
074 C000700 929
074 D000700 0
074 E000700 0
074 F000700 22972
<PAGE> PAGE 34
074 G000700 0
074 H000700 0
074 I000700 52
074 J000700 0
074 K000700 0
074 L000700 1170
074 M000700 2
074 N000700 25350
074 O000700 1627
074 P000700 6
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 613
074 S000700 0
074 T000700 23104
074 U010700 1317
074 U020700 151
074 V010700 0.00
074 V020700 0.00
074 W000700 0.0000
074 X000700 3705
074 Y000700 0
075 A000700 0
075 B000700 14206
076 000700 0.00
024 000800 N
028 A010800 925
028 A020800 0
028 A030800 0
028 A040800 213
028 B010800 892
028 B020800 0
028 B030800 0
028 B040800 186
028 C010800 739
028 C020800 39
028 C030800 0
028 C040800 116
028 D010800 1157
028 D020800 0
028 D030800 0
028 D040800 199
028 E010800 848
028 E020800 0
028 E030800 0
028 E040800 152
028 F010800 725
028 F020800 46
028 F030800 0
<PAGE> PAGE 35
028 F040800 424
028 G010800 5285
028 G020800 86
028 G030800 0
028 G040800 1291
028 H000800 3095
029 000800 Y
030 A000800 232
030 B000800 5.50
030 C000800 0.00
031 A000800 31
031 B000800 0
032 000800 67
033 000800 134
042 A000800 0
042 B000800 0
042 C000800 0
042 D000800 70
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 30
043 000800 44
044 000800 0
055 A000800 N
055 B000800 N
056 000800 N
057 000800 N
062 A000800 N
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
070 A010800 Y
070 A020800 N
070 B010800 Y
070 B020800 N
070 C010800 Y
<PAGE> PAGE 36
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 Y
070 K010800 N
070 K020800 N
070 L010800 Y
070 L020800 N
070 M010800 Y
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 10634
071 B000800 2756
071 C000800 9128
071 D000800 41
072 A000800 6
072 B000800 165
072 C000800 172
072 D000800 0
072 E000800 0
072 F000800 49
072 G000800 49
072 H000800 0
072 I000800 46
072 J000800 -4
072 K000800 0
072 L000800 0
072 M000800 1
072 N000800 80
072 O000800 0
072 P000800 0
<PAGE> PAGE 37
072 Q000800 0
072 R000800 0
072 S000800 0
072 T000800 44
072 U000800 0
072 V000800 0
072 W000800 11
072 X000800 282
072 Y000800 92
072 Z000800 153
072AA000800 346
072BB000800 0
072CC010800 810
072CC020800 0
072DD010800 123
072DD020800 9
072EE000800 85
073 A010800 0.0000
073 A020800 0.0000
073 B000800 0.1542
073 C000800 0.0000
074 A000800 102
074 B000800 174
074 C000800 0
074 D000800 4001
074 E000800 179
074 F000800 10126
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 0
074 L000800 243
074 M000800 0
074 N000800 14825
074 O000800 199
074 P000800 2
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 45
074 S000800 0
074 T000800 14579
074 U010800 969
074 U020800 130
074 V010800 0.00
074 V020800 0.00
074 W000800 0.0000
074 X000800 2087
074 Y000800 0
<PAGE> PAGE 38
075 A000800 0
075 B000800 9767
076 000800 0.00
024 000900 N
028 A010900 581
028 A020900 0
028 A030900 0
028 A040900 1573
028 B010900 357
028 B020900 0
028 B030900 0
028 B040900 346
028 C010900 296
028 C020900 41
028 C030900 0
028 C040900 1253
028 D010900 470
028 D020900 0
028 D030900 0
028 D040900 51
028 E010900 516
028 E020900 0
028 E030900 0
028 E040900 341
028 F010900 464
028 F020900 36
028 F030900 0
028 F040900 34
028 G010900 2685
028 G020900 77
028 G030900 0
028 G040900 3599
028 H000900 1591
029 000900 Y
030 A000900 149
030 B000900 5.50
030 C000900 0.00
031 A000900 20
031 B000900 0
032 000900 43
033 000900 86
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 70
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 30
043 000900 44
044 000900 0
<PAGE> PAGE 39
055 A000900 Y
055 B000900 N
056 000900 N
057 000900 N
062 A000900 N
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
070 A010900 Y
070 A020900 N
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 Y
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 Y
070 N010900 Y
070 N020900 N
070 O010900 Y
<PAGE> PAGE 40
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 13089
071 B000900 12493
071 C000900 8207
071 D000900 176
072 A000900 6
072 B000900 243
072 C000900 71
072 D000900 0
072 E000900 0
072 F000900 42
072 G000900 42
072 H000900 0
072 I000900 26
072 J000900 36
072 K000900 0
072 L000900 0
072 M000900 2
072 N000900 73
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 0
072 S000900 0
072 T000900 44
072 U000900 0
072 V000900 0
072 W000900 12
072 X000900 277
072 Y000900 106
072 Z000900 143
072AA000900 1308
072BB000900 0
072CC010900 212
072CC020900 0
072DD010900 109
072DD020900 22
072EE000900 178
073 A010900 0.0000
073 A020900 0.0000
073 B000900 0.2796
073 C000900 0.0000
074 A000900 10
074 B000900 0
074 C000900 639
<PAGE> PAGE 41
074 D000900 3939
074 E000900 398
074 F000900 4725
074 G000900 0
074 H000900 0
074 I000900 2
074 J000900 458
074 K000900 0
074 L000900 114
074 M000900 3
074 N000900 10288
074 O000900 562
074 P000900 2
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 38
074 S000900 0
074 T000900 9686
074 U010900 649
074 U020900 70
074 V010900 0.00
074 V020900 0.00
074 W000900 0.0000
074 X000900 1139
074 Y000900 0
075 A000900 0
075 B000900 8445
076 000900 0.00
024 001000 Y
025 A001001 LEHMAN BROTHERS HOLDINGS, INC.
025 B001001 13-2518466
025 C001001 E
025 D001001 229
025 D001002 0
025 D001003 0
025 D001004 0
025 D001005 0
025 D001006 0
025 D001007 0
025 D001008 0
028 A011000 3344
028 A021000 0
028 A031000 0
028 A041000 163
028 B011000 2653
028 B021000 0
028 B031000 0
028 B041000 100
028 C011000 2497
<PAGE> PAGE 42
028 C021000 9
028 C031000 0
028 C041000 974
028 D011000 3092
028 D021000 0
028 D031000 0
028 D041000 983
028 E011000 1074
028 E021000 0
028 E031000 0
028 E041000 1606
028 F011000 1343
028 F021000 12
028 F031000 0
028 F041000 489
028 G011000 14002
028 G021000 22
028 G031000 0
028 G041000 4315
028 H001000 3649
029 001000 Y
030 A001000 271
030 B001000 5.50
030 C001000 0.00
031 A001000 36
031 B001000 0
032 001000 78
033 001000 157
042 A001000 0
042 B001000 0
042 C001000 0
042 D001000 70
042 E001000 0
042 F001000 0
042 G001000 0
042 H001000 30
043 001000 57
044 001000 0
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 Y
053 B001000 Y
053 C001000 N
055 A001000 Y
055 B001000 N
056 001000 N
057 001000 N
062 A001000 N
062 B001000 0.0
<PAGE> PAGE 43
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
070 A011000 Y
070 A021000 N
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 Y
070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 Y
070 L021000 Y
070 M011000 Y
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
<PAGE> PAGE 44
070 R021000 N
071 A001000 12532
071 B001000 3166
071 C001000 7297
071 D001000 56
072 A001000 6
072 B001000 213
072 C001000 80
072 D001000 0
072 E001000 0
072 F001000 41
072 G001000 41
072 H001000 0
072 I001000 26
072 J001000 19
072 K001000 0
072 L001000 0
072 M001000 0
072 N001000 94
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 0
072 S001000 0
072 T001000 57
072 U001000 0
072 V001000 0
072 W001000 12
072 X001000 290
072 Y001000 28
072 Z001000 31
072AA001000 48
072BB001000 0
072CC011000 486
072CC021000 0
072DD011000 27
072DD021000 3
072EE001000 0
073 A011000 0.0000
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 0
074 B001000 42
074 C001000 2824
074 D001000 4391
074 E001000 220
074 F001000 9146
074 G001000 0
074 H001000 0
074 I001000 0
<PAGE> PAGE 45
074 J001000 0
074 K001000 0
074 L001000 426
074 M001000 1
074 N001000 17050
074 O001000 0
074 P001000 46
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 114
074 S001000 0
074 T001000 16890
074 U011000 1111
074 U021000 421
074 V011000 0.00
074 V021000 0.00
074 W001000 0.0000
074 X001000 1587
074 Y001000 0
075 A001000 0
075 B001000 8200
076 001000 0.00
024 001100 Y
025 A001101 MERRILL LYNCH & COMPANY, INC
025 B001101 13-5674085
025 C001101 E
025 D001101 52
025 D001102 0
025 D001103 0
025 D001104 0
025 D001105 0
025 D001106 0
025 D001107 0
025 D001108 0
028 A011100 1957
028 A021100 0
028 A031100 0
028 A041100 47
028 B011100 682
028 B021100 0
028 B031100 0
028 B041100 200
028 C011100 438
028 C021100 0
028 C031100 0
028 C041100 72
028 D011100 341
028 D021100 0
028 D031100 0
<PAGE> PAGE 46
028 D041100 2085
028 E011100 201
028 E021100 0
028 E031100 0
028 E041100 3
028 F011100 275
028 F021100 0
028 F031100 0
028 F041100 50
028 G011100 3894
028 G021100 0
028 G031100 0
028 G041100 2457
028 H001100 738
029 001100 Y
030 A001100 42
030 B001100 5.50
030 C001100 0.00
031 A001100 5
031 B001100 0
032 001100 12
033 001100 25
042 A001100 0
042 B001100 0
042 C001100 0
042 D001100 70
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 30
043 001100 13
044 001100 0
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 Y
053 B001100 Y
053 C001100 N
055 A001100 Y
055 B001100 N
056 001100 N
057 001100 N
062 A001100 N
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
<PAGE> PAGE 47
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 N
070 L011100 Y
070 L021100 N
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 Y
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 17315
071 B001100 15099
071 C001100 2307
071 D001100 654
072 A001100 6
<PAGE> PAGE 48
072 B001100 13
072 C001100 221
072 D001100 0
072 E001100 0
072 F001100 9
072 G001100 9
072 H001100 0
072 I001100 9
072 J001100 9
072 K001100 0
072 L001100 0
072 M001100 0
072 N001100 57
072 O001100 0
072 P001100 0
072 Q001100 0
072 R001100 0
072 S001100 0
072 T001100 13
072 U001100 0
072 V001100 0
072 W001100 8
072 X001100 114
072 Y001100 55
072 Z001100 175
072AA001100 0
072BB001100 190
072CC011100 103
072CC021100 0
072DD011100 0
072DD021100 0
072EE001100 0
073 A011100 0.0000
073 A021100 0.0000
073 B001100 0.0000
073 C001100 0.0000
074 A001100 0
074 B001100 0
074 C001100 813
074 D001100 0
074 E001100 0
074 F001100 2128
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 0
074 K001100 0
074 L001100 210
074 M001100 26
074 N001100 3177
074 O001100 0
<PAGE> PAGE 49
074 P001100 1
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 8
074 S001100 0
074 T001100 3168
074 U011100 245
074 U021100 59
074 V011100 0.00
074 V021100 0.00
074 W001100 0.0000
074 X001100 594
074 Y001100 0
075 A001100 0
075 B001100 2736
076 001100 0.00
SIGNATURE CHRISTOPHER G ROETZER
TITLE AVP & PRIN ACCT OFF
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX AGGRESSIVE GROWTH FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 061
<NAME> IDEX AGGRESSIVE GROWTH/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 22,799
<INVESTMENTS-AT-VALUE> 26,600
<RECEIVABLES> 465
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,065
<PAYABLE-FOR-SECURITIES> 861
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 76
<TOTAL-LIABILITIES> 937
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,031
<SHARES-COMMON-STOCK> 1,402
<SHARES-COMMON-PRIOR> 947
<ACCUMULATED-NII-CURRENT> (1)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1703)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,801
<NET-ASSETS> 26,128
<DIVIDEND-INCOME> 99
<INTEREST-INCOME> 60
<OTHER-INCOME> 0
<EXPENSES-NET> 438
<NET-INVESTMENT-INCOME> (279)
<REALIZED-GAINS-CURRENT> (1,319)
<APPREC-INCREASE-CURRENT> 743
<NET-CHANGE-FROM-OPS> (855)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1,314
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1031
<NUMBER-OF-SHARES-REDEEMED> 649
<SHARES-REINVESTED> 73
<NET-CHANGE-IN-ASSETS> 7,645
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1208
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 227
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 438
<AVERAGE-NET-ASSETS> 19,438
<PER-SHARE-NAV-BEGIN> 17.68
<PER-SHARE-NII> (.15)
<PER-SHARE-GAIN-APPREC> (.76)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 1.02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.75
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX AGGRESSIVE GROWTH FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 062
<NAME> IDEX AGGRESSIVE GROWTH/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 22,799
<INVESTMENTS-AT-VALUE> 26,600
<RECEIVABLES> 465
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,065
<PAYABLE-FOR-SECURITIES> 861
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 76
<TOTAL-LIABILITIES> 937
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,031
<SHARES-COMMON-STOCK> 115
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (1)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,703)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,801
<NET-ASSETS> 26,128
<DIVIDEND-INCOME> 99
<INTEREST-INCOME> 60
<OTHER-INCOME> 0
<EXPENSES-NET> 438
<NET-INVESTMENT-INCOME> (279)
<REALIZED-GAINS-CURRENT> (1,319)
<APPREC-INCREASE-CURRENT> 743
<NET-CHANGE-FROM-OPS> (855)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1,314
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 131
<NUMBER-OF-SHARES-REDEEMED> 17
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 7,645
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1208
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 227
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 438
<AVERAGE-NET-ASSETS> 781
<PER-SHARE-NAV-BEGIN> 17.64
<PER-SHARE-NII> (.23)
<PER-SHARE-GAIN-APPREC> (.76)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 1.02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.63
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX AGGRESSIVE GROWTH FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 063
<NAME> IDEX AGGRESSIVE GROWTH/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 22,799
<INVESTMENTS-AT-VALUE> 26,600
<RECEIVABLES> 465
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,065
<PAYABLE-FOR-SECURITIES> 861
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 76
<TOTAL-LIABILITIES> 937
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,031
<SHARES-COMMON-STOCK> 144
<SHARES-COMMON-PRIOR> 98
<ACCUMULATED-NII-CURRENT> (1)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,703)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,801
<NET-ASSETS> 26,128
<DIVIDEND-INCOME> 99
<INTEREST-INCOME> 60
<OTHER-INCOME> 0
<EXPENSES-NET> 438
<NET-INVESTMENT-INCOME> (279)
<REALIZED-GAINS-CURRENT> (1,319)
<APPREC-INCREASE-CURRENT> 743
<NET-CHANGE-FROM-OPS> (855)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1,314
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 240
<NUMBER-OF-SHARES-REDEEMED> 206
<SHARES-REINVESTED> 12
<NET-CHANGE-IN-ASSETS> 7,645
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1208
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 227
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 438
<AVERAGE-NET-ASSETS> 2,456
<PER-SHARE-NAV-BEGIN> 17.64
<PER-SHARE-NII> (.21)
<PER-SHARE-GAIN-APPREC> (.76)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 1.02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.65
<EXPENSE-RATIO> 2.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX CAPITAL APPRECIATION
FOR THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 071
<NAME> IDEX CAPITAL APPRECIATION/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 20,622
<INVESTMENTS-AT-VALUE> 23,953
<RECEIVABLES> 1170
<ASSETS-OTHER> 227
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,350
<PAYABLE-FOR-SECURITIES> 1,627
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 619
<TOTAL-LIABILITIES> 2,246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,474
<SHARES-COMMON-STOCK> 1,188
<SHARES-COMMON-PRIOR> 461
<ACCUMULATED-NII-CURRENT> (1)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 312
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,319
<NET-ASSETS> 23,104
<DIVIDEND-INCOME> 162
<INTEREST-INCOME> 52
<OTHER-INCOME> 0
<EXPENSES-NET> 281
<NET-INVESTMENT-INCOME> (67)
<REALIZED-GAINS-CURRENT> 431
<APPREC-INCREASE-CURRENT> 2,216
<NET-CHANGE-FROM-OPS> 2,580
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 36
<DISTRIBUTIONS-OF-GAINS> 591
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 990
<NUMBER-OF-SHARES-REDEEMED> 297
<SHARES-REINVESTED> 34
<NET-CHANGE-IN-ASSETS> 14,298
<ACCUMULATED-NII-PRIOR> 29
<ACCUMULATED-GAINS-PRIOR> 476
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 142
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 282
<AVERAGE-NET-ASSETS> 10,908
<PER-SHARE-NAV-BEGIN> 13.54
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 3.04
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 0.82
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.75
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX CAPITAL APPRECIATION
FOR THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 072
<NAME> IDEX CAPITAL APPRECIATION/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 20,622
<INVESTMENTS-AT-VALUE> 23,953
<RECEIVABLES> 1170
<ASSETS-OTHER> 227
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,350
<PAYABLE-FOR-SECURITIES> 1,627
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 619
<TOTAL-LIABILITIES> 2,246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,474
<SHARES-COMMON-STOCK> 129
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 312
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,319
<NET-ASSETS> 23,104
<DIVIDEND-INCOME> 162
<INTEREST-INCOME> 52
<OTHER-INCOME> 0
<EXPENSES-NET> 281
<NET-INVESTMENT-INCOME> (67)
<REALIZED-GAINS-CURRENT> 431
<APPREC-INCREASE-CURRENT> 2,216
<NET-CHANGE-FROM-OPS> 2,580
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 591
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 137
<NUMBER-OF-SHARES-REDEEMED> 9
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 14,298
<ACCUMULATED-NII-PRIOR> 29
<ACCUMULATED-GAINS-PRIOR> 476
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 142
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 282
<AVERAGE-NET-ASSETS> 734
<PER-SHARE-NAV-BEGIN> 13.49
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 3.04
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.82
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.69
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX CAPITAL APPRECIATION
FOR THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 00787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 073
<NAME> IDEX CAPITAL APPRECIATION/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 20,622
<INVESTMENTS-AT-VALUE> 23,953
<RECEIVABLES> 1,170
<ASSETS-OTHER> 227
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,350
<PAYABLE-FOR-SECURITIES> 1,627
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 619
<TOTAL-LIABILITIES> 2,246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,474
<SHARES-COMMON-STOCK> 151
<SHARES-COMMON-PRIOR> 190
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 312
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,319
<NET-ASSETS> 23,104
<DIVIDEND-INCOME> 162
<INTEREST-INCOME> 52
<OTHER-INCOME> 0
<EXPENSES-NET> 281
<NET-INVESTMENT-INCOME> (67)
<REALIZED-GAINS-CURRENT> 431
<APPREC-INCREASE-CURRENT> 2,216
<NET-CHANGE-FROM-OPS> 2,580
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2
<DISTRIBUTIONS-OF-GAINS> 591
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 264
<NUMBER-OF-SHARES-REDEEMED> 314
<SHARES-REINVESTED> 11
<NET-CHANGE-IN-ASSETS> 14,298
<ACCUMULATED-NII-PRIOR> 29
<ACCUMULATED-GAINS-PRIOR> 476
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 142
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 282
<AVERAGE-NET-ASSETS> 2,564
<PER-SHARE-NAV-BEGIN> 13.49
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 3.04
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.82
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.70
<EXPENSE-RATIO> 2.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GLOBAL FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 041
<NAME> IDEX GLOBAL/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 118,796
<INVESTMENTS-AT-VALUE> 143,357
<RECEIVABLES> 1,167
<ASSETS-OTHER> 581
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145,105
<PAYABLE-FOR-SECURITIES> 118
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 559
<TOTAL-LIABILITIES> 677
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,791
<SHARES-COMMON-STOCK> 6,138
<SHARES-COMMON-PRIOR> 5,042
<ACCUMULATED-NII-CURRENT> (13)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,795
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,855
<NET-ASSETS> 144,428
<DIVIDEND-INCOME> 1,367
<INTEREST-INCOME> 211
<OTHER-INCOME> 0
<EXPENSES-NET> 2,375
<NET-INVESTMENT-INCOME> (797)
<REALIZED-GAINS-CURRENT> 15,721
<APPREC-INCREASE-CURRENT> 9,941
<NET-CHANGE-FROM-OPS> 24,865
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,252
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,964
<NUMBER-OF-SHARES-REDEEMED> 1,045
<SHARES-REINVESTED> 177
<NET-CHANGE-IN-ASSETS> 51,464
<ACCUMULATED-NII-PRIOR> (14)
<ACCUMULATED-GAINS-PRIOR> 899
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,131
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,404
<AVERAGE-NET-ASSETS> 105,986
<PER-SHARE-NAV-BEGIN> 17.73
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 4.38
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.62
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.40
<EXPENSE-RATIO> 2.06
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GLOBAL FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 042
<NAME> IDEX GLOBAL/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 118,796
<INVESTMENTS-AT-VALUE> 143,357
<RECEIVABLES> 1,167
<ASSETS-OTHER> 581
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145,105
<PAYABLE-FOR-SECURITIES> 118
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 559
<TOTAL-LIABILITIES> 677
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,791
<SHARES-COMMON-STOCK> 237
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (13)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,795
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,855
<NET-ASSETS> 144,428
<DIVIDEND-INCOME> 1,367
<INTEREST-INCOME> 211
<OTHER-INCOME> 0
<EXPENSES-NET> 2,375
<NET-INVESTMENT-INCOME> (797)
<REALIZED-GAINS-CURRENT> 15,721
<APPREC-INCREASE-CURRENT> 9,941
<NET-CHANGE-FROM-OPS> 24,865
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,252
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 257
<NUMBER-OF-SHARES-REDEEMED> 20
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 51,464
<ACCUMULATED-NII-PRIOR> (14)
<ACCUMULATED-GAINS-PRIOR> 899
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,131
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,404
<AVERAGE-NET-ASSETS> 1,646
<PER-SHARE-NAV-BEGIN> 17.57
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 4.38
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.62
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.14
<EXPENSE-RATIO> 2.71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GLOBAL FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 043
<NAME> IDEX GLOBAL/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 118,796
<INVESTMENTS-AT-VALUE> 143,357
<RECEIVABLES> 1,167
<ASSETS-OTHER> 581
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 145,105
<PAYABLE-FOR-SECURITIES> 118
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 559
<TOTAL-LIABILITIES> 677
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106,791
<SHARES-COMMON-STOCK> 384
<SHARES-COMMON-PRIOR> 204
<ACCUMULATED-NII-CURRENT> (13)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,795
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 24,855
<NET-ASSETS> 144,428
<DIVIDEND-INCOME> 1,367
<INTEREST-INCOME> 211
<OTHER-INCOME> 0
<EXPENSES-NET> 2,375
<NET-INVESTMENT-INCOME> (797)
<REALIZED-GAINS-CURRENT> 15,721
<APPREC-INCREASE-CURRENT> 9,941
<NET-CHANGE-FROM-OPS> 24,865
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,252
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 312
<NUMBER-OF-SHARES-REDEEMED> 140
<SHARES-REINVESTED> 8
<NET-CHANGE-IN-ASSETS> 51,464
<ACCUMULATED-NII-PRIOR> (14)
<ACCUMULATED-GAINS-PRIOR> 899
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,131
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,404
<AVERAGE-NET-ASSETS> 5,443
<PER-SHARE-NAV-BEGIN> 17.46
<PER-SHARE-NII> (0.18)
<PER-SHARE-GAIN-APPREC> 4.38
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.62
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.04
<EXPENSE-RATIO> 2.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GROWTH FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 011
<NAME> IDEX GROWTH/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 816,965
<INVESTMENTS-AT-VALUE> 1,173,250
<RECEIVABLES> 2,051
<ASSETS-OTHER> 527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,175,828
<PAYABLE-FOR-SECURITIES> 4,600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,456
<TOTAL-LIABILITIES> 7,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 806,354
<SHARES-COMMON-STOCK> 25,553
<SHARES-COMMON-PRIOR> 21,273
<ACCUMULATED-NII-CURRENT> (44)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,735
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 356,727
<NET-ASSETS> 1,168,772
<DIVIDEND-INCOME> 3,170
<INTEREST-INCOME> 5,513
<OTHER-INCOME> 0
<EXPENSES-NET> 9,880
<NET-INVESTMENT-INCOME> (1,197)
<REALIZED-GAINS-CURRENT> 71,706
<APPREC-INCREASE-CURRENT> 223,454
<NET-CHANGE-FROM-OPS> 293,963
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 116,218
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,212
<NUMBER-OF-SHARES-REDEEMED> 4,120
<SHARES-REINVESTED> 5,188
<NET-CHANGE-IN-ASSETS> 677,245
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 50,839
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,460
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,938
<AVERAGE-NET-ASSETS> 523,249
<PER-SHARE-NAV-BEGIN> 22.84
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 4.66
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 5.18
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.21
<EXPENSE-RATIO> 1.82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GROWTH FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 012
<NAME> IDEX GROWTH/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 816,965
<INVESTMENTS-AT-VALUE> 1,173,250
<RECEIVABLES> 2,051
<ASSETS-OTHER> 527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,175,828
<PAYABLE-FOR-SECURITIES> 4,600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,456
<TOTAL-LIABILITIES> 7,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 806,354
<SHARES-COMMON-STOCK> 208
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (44)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,735
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 356,727
<NET-ASSETS> 1,168,772
<DIVIDEND-INCOME> 3,170
<INTEREST-INCOME> 5,513
<OTHER-INCOME> 0
<EXPENSES-NET> 9,880
<NET-INVESTMENT-INCOME> (1,197)
<REALIZED-GAINS-CURRENT> 71,706
<APPREC-INCREASE-CURRENT> 223,454
<NET-CHANGE-FROM-OPS> 293,963
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 116,218
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 193
<NUMBER-OF-SHARES-REDEEMED> 19
<SHARES-REINVESTED> 4
<NET-CHANGE-IN-ASSETS> 677,245
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 50,839
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,460
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,938
<AVERAGE-NET-ASSETS> 1,645
<PER-SHARE-NAV-BEGIN> 22.64
<PER-SHARE-NII> (0.27)
<PER-SHARE-GAIN-APPREC> 4.66
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 5.18
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.85
<EXPENSE-RATIO> 2.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GROWTH FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 013
<NAME> IDEX GROWTH/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 816,965
<INVESTMENTS-AT-VALUE> 1,173,250
<RECEIVABLES> 2,051
<ASSETS-OTHER> 527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,175,828
<PAYABLE-FOR-SECURITIES> 4,600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,456
<TOTAL-LIABILITIES> 7,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 806,354
<SHARES-COMMON-STOCK> 510
<SHARES-COMMON-PRIOR> 247
<ACCUMULATED-NII-CURRENT> (44)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,735
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 356,727
<NET-ASSETS> 1,168,772
<DIVIDEND-INCOME> 3,170
<INTEREST-INCOME> 5,513
<OTHER-INCOME> 0
<EXPENSES-NET> 9,880
<NET-INVESTMENT-INCOME> (1,197)
<REALIZED-GAINS-CURRENT> 71,706
<APPREC-INCREASE-CURRENT> 223,454
<NET-CHANGE-FROM-OPS> 293,963
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 116,218
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 463
<NUMBER-OF-SHARES-REDEEMED> 284
<SHARES-REINVESTED> 84
<NET-CHANGE-IN-ASSETS> 677,245
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 50,839
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,460
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,938
<AVERAGE-NET-ASSETS> 8,058
<PER-SHARE-NAV-BEGIN> 22.64
<PER-SHARE-NII> (0.21)
<PER-SHARE-GAIN-APPREC> 4.66
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 5.18
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.91
<EXPENSE-RATIO> 2.33
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX GROWTH FOR THE PERIOD
ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 014
<NAME> IDEX GROWTH/CLASS T
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 816,965
<INVESTMENTS-AT-VALUE> 1,173,250
<RECEIVABLES> 2,051
<ASSETS-OTHER> 527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,175,828
<PAYABLE-FOR-SECURITIES> 4,600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,456
<TOTAL-LIABILITIES> 7,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 806,354
<SHARES-COMMON-STOCK> 26,132
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (44)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,735
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 356,727
<NET-ASSETS> 1,168,772
<DIVIDEND-INCOME> 3,170
<INTEREST-INCOME> 5,513
<OTHER-INCOME> 0
<EXPENSES-NET> 9,880
<NET-INVESTMENT-INCOME> (1,197)
<REALIZED-GAINS-CURRENT> 71,706
<APPREC-INCREASE-CURRENT> 223,454
<NET-CHANGE-FROM-OPS> 293,964
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 116,218
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,247
<NUMBER-OF-SHARES-REDEEMED> 115
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 677,245
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 50,839
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,460
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,938
<AVERAGE-NET-ASSETS> 585,237
<PER-SHARE-NAV-BEGIN> 22.23
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0.18
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.41
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX C.A.S.E. GROWTH FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 111
<NAME> IDEX C.A.S.E./CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 2,838
<INVESTMENTS-AT-VALUE> 2,941
<RECEIVABLES> 210
<ASSETS-OTHER> 26
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,177
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9
<TOTAL-LIABILITIES> 9
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,080
<SHARES-COMMON-STOCK> 139
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 175
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (190)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 103
<NET-ASSETS> 3,168
<DIVIDEND-INCOME> 221
<INTEREST-INCOME> 13
<OTHER-INCOME> 0
<EXPENSES-NET> 59
<NET-INVESTMENT-INCOME> 175
<REALIZED-GAINS-CURRENT> (190)
<APPREC-INCREASE-CURRENT> 102
<NET-CHANGE-FROM-OPS> 87
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 151
<NUMBER-OF-SHARES-REDEEMED> 12
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,168
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 18
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 59
<AVERAGE-NET-ASSETS> 936
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.46
<EXPENSE-RATIO> 2.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX C.A.S.E. GROWTH FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 112
<NAME> IDEX C.A.S.E./CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 2,838
<INVESTMENTS-AT-VALUE> 2,941
<RECEIVABLES> 210
<ASSETS-OTHER> 26
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,177
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9
<TOTAL-LIABILITIES> 9
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,080
<SHARES-COMMON-STOCK> 106
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 175
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (190)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 103
<NET-ASSETS> 3,168
<DIVIDEND-INCOME> 221
<INTEREST-INCOME> 13
<OTHER-INCOME> 0
<EXPENSES-NET> 59
<NET-INVESTMENT-INCOME> 175
<REALIZED-GAINS-CURRENT> (190)
<APPREC-INCREASE-CURRENT> 120
<NET-CHANGE-FROM-OPS> 87
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 113
<NUMBER-OF-SHARES-REDEEMED> 7
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,168
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 18
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 59
<AVERAGE-NET-ASSETS> 596
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.41
<EXPENSE-RATIO> 3.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX II C.A.S.E GROWTH FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 113
<NAME> IDEX C.A.S.E./CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> OTHER
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 2,838
<INVESTMENTS-AT-VALUE> 2,941
<RECEIVABLES> 210
<ASSETS-OTHER> 26
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,176
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9
<TOTAL-LIABILITIES> 9
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,080
<SHARES-COMMON-STOCK> 59
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 175
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (190)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 103
<NET-ASSETS> 3,168
<DIVIDEND-INCOME> 221
<INTEREST-INCOME> 13
<OTHER-INCOME> 0
<EXPENSES-NET> 59
<NET-INVESTMENT-INCOME> 175
<REALIZED-GAINS-CURRENT> (190)
<APPREC-INCREASE-CURRENT> 102
<NET-CHANGE-FROM-OPS> 87
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 286
<NUMBER-OF-SHARES-REDEEMED> 227
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,168
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 18
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 59
<AVERAGE-NET-ASSETS> 1,205
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.57
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.42
<EXPENSE-RATIO> 3.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX II TACTICAL ASSET
ALLOCATION FOR THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 101
<NAME> IDEX TACTICAL ASSET ALLOCATION/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 16,137
<INVESTMENTS-AT-VALUE> 16,623
<RECEIVABLES> 426
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,050
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 160
<TOTAL-LIABILITIES> 160
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16,355
<SHARES-COMMON-STOCK> 671
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 48
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 486
<NET-ASSETS> 16,890
<DIVIDEND-INCOME> 80
<INTEREST-INCOME> 213
<OTHER-INCOME> 0
<EXPENSES-NET> 262
<NET-INVESTMENT-INCOME> 31
<REALIZED-GAINS-CURRENT> 48
<APPREC-INCREASE-CURRENT> 486
<NET-CHANGE-FROM-OPS> 565
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 26
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 728
<NUMBER-OF-SHARES-REDEEMED> 59
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> 16,890
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 82
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 262
<AVERAGE-NET-ASSETS> 3,474
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> 0.94
<PER-SHARE-DIVIDEND> 0.08
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.03
<EXPENSE-RATIO> 2.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX II TACTICAL ASSET
ALLOCATION FOR THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 102
<NAME> IDEX TACTICAL ASSET ALLOCATION/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 16,137
<INVESTMENTS-AT-VALUE> 16,623
<RECEIVABLES> 426
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,050
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 160
<TOTAL-LIABILITIES> 160
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16,355
<SHARES-COMMON-STOCK> 440
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 48
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 486
<NET-ASSETS> 16,890
<DIVIDEND-INCOME> 80
<INTEREST-INCOME> 213
<OTHER-INCOME> 0
<EXPENSES-NET> 262
<NET-INVESTMENT-INCOME> 31
<REALIZED-GAINS-CURRENT> 48
<APPREC-INCREASE-CURRENT> 486
<NET-CHANGE-FROM-OPS> 565
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 493
<NUMBER-OF-SHARES-REDEEMED> 53
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,890
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 82
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 262
<AVERAGE-NET-ASSETS> 2,253
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 0.94
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.02
<EXPENSE-RATIO> 3.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX II TACTICAL ASSET
ALLOCATION FOR THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 103
<NAME> IDEX TACTICAL ASSET ALLOCATION/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 16,137
<INVESTMENTS-AT-VALUE> 16,623
<RECEIVABLES> 426
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,050
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 160
<TOTAL-LIABILITIES> 160
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16,355
<SHARES-COMMON-STOCK> 421
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 48
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 486
<NET-ASSETS> 16,890
<DIVIDEND-INCOME> 80
<INTEREST-INCOME> 213
<OTHER-INCOME> 0
<EXPENSES-NET> 262
<NET-INVESTMENT-INCOME> 31
<REALIZED-GAINS-CURRENT> 48
<APPREC-INCREASE-CURRENT> 486
<NET-CHANGE-FROM-OPS> 565
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 743
<NUMBER-OF-SHARES-REDEEMED> 322
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,890
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 82
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 262
<AVERAGE-NET-ASSETS> 2,472
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.11
<PER-SHARE-GAIN-APPREC> 0.94
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0.02
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.03
<EXPENSE-RATIO> 3.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX EQUITY-INCOME FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 081
<NAME> IDEX EQUITY-INCOME/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 13,282
<INVESTMENTS-AT-VALUE> 14,480
<RECEIVABLES> 243
<ASSETS-OTHER> 102
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,825
<PAYABLE-FOR-SECURITIES> 199
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 47
<TOTAL-LIABILITIES> 246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,025
<SHARES-COMMON-STOCK> 853
<SHARES-COMMON-PRIOR> 440
<ACCUMULATED-NII-CURRENT> 17
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 339
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,198
<NET-ASSETS> 14,579
<DIVIDEND-INCOME> 172
<INTEREST-INCOME> 165
<OTHER-INCOME> 0
<EXPENSES-NET> 184
<NET-INVESTMENT-INCOME> 153
<REALIZED-GAINS-CURRENT> 346
<APPREC-INCREASE-CURRENT> 810
<NET-CHANGE-FROM-OPS> 1,309
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 117
<DISTRIBUTIONS-OF-GAINS> 85
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 538
<NUMBER-OF-SHARES-REDEEMED> 140
<SHARES-REINVESTED> 15
<NET-CHANGE-IN-ASSETS> 9,131
<ACCUMULATED-NII-PRIOR> (4)
<ACCUMULATED-GAINS-PRIOR> 78
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 98
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 190
<AVERAGE-NET-ASSETS> 8,143
<PER-SHARE-NAV-BEGIN> 11.74
<PER-SHARE-NII> 0.57
<PER-SHARE-GAIN-APPREC> 1.28
<PER-SHARE-DIVIDEND> 0.17
<PER-SHARE-DISTRIBUTIONS> 0.32
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.27
<EXPENSE-RATIO> 1.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX EQUITY-INCOME FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 082
<NAME> IDEX EQUITY-INCOME/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 13,282
<INVESTMENTS-AT-VALUE> 14,480
<RECEIVABLES> 243
<ASSETS-OTHER> 102
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,825
<PAYABLE-FOR-SECURITIES> 199
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 47
<TOTAL-LIABILITIES> 246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,025
<SHARES-COMMON-STOCK> 116
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 17
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 339
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,198
<NET-ASSETS> 14,579
<DIVIDEND-INCOME> 172
<INTEREST-INCOME> 165
<OTHER-INCOME> 0
<EXPENSES-NET> 184
<NET-INVESTMENT-INCOME> 153
<REALIZED-GAINS-CURRENT> 346
<APPREC-INCREASE-CURRENT> 810
<NET-CHANGE-FROM-OPS> 1,309
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6
<DISTRIBUTIONS-OF-GAINS> 85
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 118
<NUMBER-OF-SHARES-REDEEMED> 3
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 9,131
<ACCUMULATED-NII-PRIOR> (4)
<ACCUMULATED-GAINS-PRIOR> 78
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 98
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 190
<AVERAGE-NET-ASSETS> 667
<PER-SHARE-NAV-BEGIN> 11.73
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 1.28
<PER-SHARE-DIVIDEND> 0.09
<PER-SHARE-DISTRIBUTIONS> 0.24
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.27
<EXPENSE-RATIO> 2.44
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX EQUITY-INCOME FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 083
<NAME> IDEX EQUITY-INCOME/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 13,282
<INVESTMENTS-AT-VALUE> 14,480
<RECEIVABLES> 243
<ASSETS-OTHER> 102
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,825
<PAYABLE-FOR-SECURITIES> 199
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 47
<TOTAL-LIABILITIES> 246
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,025
<SHARES-COMMON-STOCK> 130
<SHARES-COMMON-PRIOR> 24
<ACCUMULATED-NII-CURRENT> 17
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 339
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,198
<NET-ASSETS> 14,579
<DIVIDEND-INCOME> 172
<INTEREST-INCOME> 165
<OTHER-INCOME> 0
<EXPENSES-NET> 184
<NET-INVESTMENT-INCOME> 153
<REALIZED-GAINS-CURRENT> 346
<APPREC-INCREASE-CURRENT> 810
<NET-CHANGE-FROM-OPS> 1,309
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9
<DISTRIBUTIONS-OF-GAINS> 85
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 130
<NUMBER-OF-SHARES-REDEEMED> 25
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 9,131
<ACCUMULATED-NII-PRIOR> (4)
<ACCUMULATED-GAINS-PRIOR> 78
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 98
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 190
<AVERAGE-NET-ASSETS> 957
<PER-SHARE-NAV-BEGIN> 11.73
<PER-SHARE-NII> 0.52
<PER-SHARE-GAIN-APPREC> 1.28
<PER-SHARE-DIVIDEND> 0.11
<PER-SHARE-DISTRIBUTIONS> 0.26
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.27
<EXPENSE-RATIO> 2.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX BALANCED FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 091
<NAME> IDEX BALANCED/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 9,059
<INVESTMENTS-AT-VALUE> 9,701
<RECEIVABLES> 572
<ASSETS-OTHER> 15
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,288
<PAYABLE-FOR-SECURITIES> 562
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40
<TOTAL-LIABILITIES> 602
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,755
<SHARES-COMMON-STOCK> 598
<SHARES-COMMON-PRIOR> 320
<ACCUMULATED-NII-CURRENT> 8
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,283
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 640
<NET-ASSETS> 9,686
<DIVIDEND-INCOME> 71
<INTEREST-INCOME> 243
<OTHER-INCOME> 0
<EXPENSES-NET> 171
<NET-INVESTMENT-INCOME> 143
<REALIZED-GAINS-CURRENT> 1,308
<APPREC-INCREASE-CURRENT> 212
<NET-CHANGE-FROM-OPS> 1,663
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 105
<DISTRIBUTIONS-OF-GAINS> 178
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 330
<NUMBER-OF-SHARES-REDEEMED> 68
<SHARES-REINVESTED> 16
<NET-CHANGE-IN-ASSETS> 2,651
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 150
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 84
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 171
<AVERAGE-NET-ASSETS> 5,808
<PER-SHARE-NAV-BEGIN> 11.47
<PER-SHARE-NII> 0.72
<PER-SHARE-GAIN-APPREC> 1.77
<PER-SHARE-DIVIDEND> 0.21
<PER-SHARE-DISTRIBUTIONS> 0.28
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.47
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX BALANCED FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 092
<NAME> IDEX BALANCED/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 9,059
<INVESTMENTS-AT-VALUE> 9,701
<RECEIVABLES> 572
<ASSETS-OTHER> 15
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,288
<PAYABLE-FOR-SECURITIES> 562
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40
<TOTAL-LIABILITIES> 602
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,755
<SHARES-COMMON-STOCK> 51
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 8
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,283
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 640
<NET-ASSETS> 9,686
<DIVIDEND-INCOME> 71
<INTEREST-INCOME> 243
<OTHER-INCOME> 0
<EXPENSES-NET> 171
<NET-INVESTMENT-INCOME> 143
<REALIZED-GAINS-CURRENT> 1,308
<APPREC-INCREASE-CURRENT> 212
<NET-CHANGE-FROM-OPS> 1,663
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4
<DISTRIBUTIONS-OF-GAINS> 178
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53
<NUMBER-OF-SHARES-REDEEMED> 3
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 2,651
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 150
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 84
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 171
<AVERAGE-NET-ASSETS> 262
<PER-SHARE-NAV-BEGIN> 11.47
<PER-SHARE-NII> 0.63
<PER-SHARE-GAIN-APPREC> 1.77
<PER-SHARE-DIVIDEND> 0.13
<PER-SHARE-DISTRIBUTIONS> 0.41
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.46
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL TATEMENTS OF IDEX BALANCED FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 093
<NAME> IDEX BALANCED/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 9,059
<INVESTMENTS-AT-VALUE> 9,701
<RECEIVABLES> 572
<ASSETS-OTHER> 15
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,288
<PAYABLE-FOR-SECURITIES> 562
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40
<TOTAL-LIABILITIES> 602
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,755
<SHARES-COMMON-STOCK> 70
<SHARES-COMMON-PRIOR> 293
<ACCUMULATED-NII-CURRENT> 8
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,283
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 640
<NET-ASSETS> 9,686
<DIVIDEND-INCOME> 71
<INTEREST-INCOME> 243
<OTHER-INCOME> 0
<EXPENSES-NET> 171
<NET-INVESTMENT-INCOME> 143
<REALIZED-GAINS-CURRENT> 1,308
<APPREC-INCREASE-CURRENT> 212
<NET-CHANGE-FROM-OPS> 1,663
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 22
<DISTRIBUTIONS-OF-GAINS> 178
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63
<NUMBER-OF-SHARES-REDEEMED> 294
<SHARES-REINVESTED> 8
<NET-CHANGE-IN-ASSETS> 2,651
<ACCUMULATED-NII-PRIOR> (1)
<ACCUMULATED-GAINS-PRIOR> 150
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 84
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 171
<AVERAGE-NET-ASSETS> 2,375
<PER-SHARE-NAV-BEGIN> 11.47
<PER-SHARE-NII> 0.64
<PER-SHARE-GAIN-APPREC> 1.77
<PER-SHARE-DIVIDEND> 0.14
<PER-SHARE-DISTRIBUTIONS> 0.42
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.46
<EXPENSE-RATIO> 2.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX FLEXIBLE INCOME FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 051
<NAME> IDEX FLEXIBLE INCOME/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 18,019
<INVESTMENTS-AT-VALUE> 18,153
<RECEIVABLES> 910
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,068
<PAYABLE-FOR-SECURITIES> 500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 126
<TOTAL-LIABILITIES> 626
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,060
<SHARES-COMMON-STOCK> 1,858
<SHARES-COMMON-PRIOR> 2,158
<ACCUMULATED-NII-CURRENT> 55
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,798)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 125
<NET-ASSETS> 18,442
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,610
<OTHER-INCOME> 0
<EXPENSES-NET> 365
<NET-INVESTMENT-INCOME> 1,245
<REALIZED-GAINS-CURRENT> 718
<APPREC-INCREASE-CURRENT> (710)
<NET-CHANGE-FROM-OPS> 1,253
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,143
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 204
<NUMBER-OF-SHARES-REDEEMED> 598
<SHARES-REINVESTED> 94
<NET-CHANGE-IN-ASSETS> (1,902)
<ACCUMULATED-NII-PRIOR> 22
<ACCUMULATED-GAINS-PRIOR> (3,512)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 365
<AVERAGE-NET-ASSETS> 18,296
<PER-SHARE-NAV-BEGIN> 9.17
<PER-SHARE-NII> 2.23
<PER-SHARE-GAIN-APPREC> (1.63)
<PER-SHARE-DIVIDEND> 0.58
<PER-SHARE-DISTRIBUTIONS> 0.58
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.19
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX FLEXIBLE INCOME FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 052
<NAME> IDEX FLEXIBLE INCOME/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 18,019
<INVESTMENTS-AT-VALUE> 18,153
<RECEIVABLES> 910
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,068
<PAYABLE-FOR-SECURITIES> 50
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 126
<TOTAL-LIABILITIES> 626
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,060
<SHARES-COMMON-STOCK> 54
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 55
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,798)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 125
<NET-ASSETS> 18,442
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,610
<OTHER-INCOME> 0
<EXPENSES-NET> 365
<NET-INVESTMENT-INCOME> 1,245
<REALIZED-GAINS-CURRENT> 718
<APPREC-INCREASE-CURRENT> (710)
<NET-CHANGE-FROM-OPS> 1,253
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 14
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 59
<NUMBER-OF-SHARES-REDEEMED> 6
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> (1,902)
<ACCUMULATED-NII-PRIOR> 22
<ACCUMULATED-GAINS-PRIOR> (3,512)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 365
<AVERAGE-NET-ASSETS> 227
<PER-SHARE-NAV-BEGIN> 9.17
<PER-SHARE-NII> 2.16
<PER-SHARE-GAIN-APPREC> (1.63)
<PER-SHARE-DIVIDEND> 0.52
<PER-SHARE-DISTRIBUTIONS> 0.52
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.18
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX FLEXIBLE INCOME FOR
THE PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 053
<NAME> IDEX FLEXIBLE INCOME/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 18,019
<INVESTMENTS-AT-VALUE> 18,153
<RECEIVABLES> 910
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,068
<PAYABLE-FOR-SECURITIES> 500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 126
<TOTAL-LIABILITIES> 626
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,060
<SHARES-COMMON-STOCK> 96
<SHARES-COMMON-PRIOR> 61
<ACCUMULATED-NII-CURRENT> 55
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,798)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 125
<NET-ASSETS> 18,442
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,610
<OTHER-INCOME> 0
<EXPENSES-NET> 365
<NET-INVESTMENT-INCOME> 1,245
<REALIZED-GAINS-CURRENT> 718
<APPREC-INCREASE-CURRENT> (710)
<NET-CHANGE-FROM-OPS> 1,253
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 50
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 71
<NUMBER-OF-SHARES-REDEEMED> 41
<SHARES-REINVESTED> 5
<NET-CHANGE-IN-ASSETS> (1902)
<ACCUMULATED-NII-PRIOR> 22
<ACCUMULATED-GAINS-PRIOR> (3,512)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 174
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 365
<AVERAGE-NET-ASSETS> 860
<PER-SHARE-NAV-BEGIN> 9.17
<PER-SHARE-NII> 2.17
<PER-SHARE-GAIN-APPREC> (1.63)
<PER-SHARE-DIVIDEND> 0.53
<PER-SHARE-DISTRIBUTIONS> 0.53
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.18
<EXPENSE-RATIO> 2.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX INCOME PLUS FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 031
<NAME> IDEX INCOME PLUS/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 66,002
<INVESTMENTS-AT-VALUE> 66,973
<RECEIVABLES> 2,470
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,444
<PAYABLE-FOR-SECURITIES> 600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 134
<TOTAL-LIABILITIES> 734
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 67,165
<SHARES-COMMON-STOCK> 6,271
<SHARES-COMMON-PRIOR> 6,638
<ACCUMULATED-NII-CURRENT> 332
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 248
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 970
<NET-ASSETS> 68,710
<DIVIDEND-INCOME> 86
<INTEREST-INCOME> 5,573
<OTHER-INCOME> 0
<EXPENSES-NET> 921
<NET-INVESTMENT-INCOME> 4,738
<REALIZED-GAINS-CURRENT> 782
<APPREC-INCREASE-CURRENT> (491)
<NET-CHANGE-FROM-OPS> 5,029
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,531
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 567
<NUMBER-OF-SHARES-REDEEMED> 1,244
<SHARES-REINVESTED> 310
<NET-CHANGE-IN-ASSETS> (2,016)
<ACCUMULATED-NII-PRIOR> 158
<ACCUMULATED-GAINS-PRIOR> (381)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 414
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 934
<AVERAGE-NET-ASSETS> 65,974
<PER-SHARE-NAV-BEGIN> 10.36
<PER-SHARE-NII> 2.72
<PER-SHARE-GAIN-APPREC> (1.96)
<PER-SHARE-DIVIDEND> 0.71
<PER-SHARE-DISTRIBUTIONS> 0.71
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.41
<EXPENSE-RATIO> 1.31
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE
FINANCIAL STATEMENTS OF IDEX INCOME PLUS FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 032
<NAME> IDEX INCOME PLUS/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 66,002
<INVESTMENTS-AT-VALUE> 66,973
<RECEIVABLES> 2,470
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,444
<PAYABLE-FOR-SECURITIES> 600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 134
<TOTAL-LIABILITIES> 734
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 67,165
<SHARES-COMMON-STOCK> 74
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 332
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 248
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 970
<NET-ASSETS> 68,710
<DIVIDEND-INCOME> 86
<INTEREST-INCOME> 5,573
<OTHER-INCOME> 0
<EXPENSES-NET> 921
<NET-INVESTMENT-INCOME> 4,738
<REALIZED-GAINS-CURRENT> 782
<APPREC-INCREASE-CURRENT> (491)
<NET-CHANGE-FROM-OPS> 5,029
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 91
<NUMBER-OF-SHARES-REDEEMED> 19
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> (2,016)
<ACCUMULATED-NII-PRIOR> 158
<ACCUMULATED-GAINS-PRIOR> (381)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 414
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 934
<AVERAGE-NET-ASSETS> 466
<PER-SHARE-NAV-BEGIN> 10.35
<PER-SHARE-NII> 2.65
<PER-SHARE-GAIN-APPREC> (1.96)
<PER-SHARE-DIVIDEND> 0.64
<PER-SHARE-DISTRIBUTIONS> 0.64
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.40
<EXPENSE-RATIO> 1.96
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX INCOME PLUS FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 033
<NAME> IDEX INCOME PLUS/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 66,002
<INVESTMENTS-AT-VALUE> 66,973
<RECEIVABLES> 2,470
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69,444
<PAYABLE-FOR-SECURITIES> 600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 134
<TOTAL-LIABILITIES> 734
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 67,165
<SHARES-COMMON-STOCK> 258
<SHARES-COMMON-PRIOR> 191
<ACCUMULATED-NII-CURRENT> 332
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 248
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 970
<NET-ASSETS> 68,710
<DIVIDEND-INCOME> 86
<INTEREST-INCOME> 5,573
<OTHER-INCOME> 0
<EXPENSES-NET> 921
<NET-INVESTMENT-INCOME> 4,738
<REALIZED-GAINS-CURRENT> 782
<APPREC-INCREASE-CURRENT> (491)
<NET-CHANGE-FROM-OPS> 5,029
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 162
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 150
<NUMBER-OF-SHARES-REDEEMED> 95
<SHARES-REINVESTED> 12
<NET-CHANGE-IN-ASSETS> (2,016)
<ACCUMULATED-NII-PRIOR> 158
<ACCUMULATED-GAINS-PRIOR> (381)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 414
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 934
<AVERAGE-NET-ASSETS> 2,563
<PER-SHARE-NAV-BEGIN> 10.35
<PER-SHARE-NII> 2.66
<PER-SHARE-GAIN-APPREC> (1.96)
<PER-SHARE-DIVIDEND> 0.65
<PER-SHARE-DISTRIBUTIONS> 0.65
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.40
<EXPENSE-RATIO> 1.86
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX TAX EXEMPT FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 021
<NAME> IDEX TAX EXEMPT/CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 24,283
<INVESTMENTS-AT-VALUE> 24,503
<RECEIVABLES> 1,593
<ASSETS-OTHER> 775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,871
<PAYABLE-FOR-SECURITIES> 997
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70
<TOTAL-LIABILITIES> 1,067
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,361
<SHARES-COMMON-STOCK> 2,175
<SHARES-COMMON-PRIOR> 2,416
<ACCUMULATED-NII-CURRENT> 49
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 174
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 220
<NET-ASSETS> 25,804
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,564
<OTHER-INCOME> 0
<EXPENSES-NET> 268
<NET-INVESTMENT-INCOME> 1,296
<REALIZED-GAINS-CURRENT> 222
<APPREC-INCREASE-CURRENT> 3
<NET-CHANGE-FROM-OPS> 1,521
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,284
<DISTRIBUTIONS-OF-GAINS> 164
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 140
<NUMBER-OF-SHARES-REDEEMED> 466
<SHARES-REINVESTED> 85
<NET-CHANGE-IN-ASSETS> (2,051)
<ACCUMULATED-NII-PRIOR> 68
<ACCUMULATED-GAINS-PRIOR> 37
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 160
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 268
<AVERAGE-NET-ASSETS> 25,926
<PER-SHARE-NAV-BEGIN> 11.34
<PER-SHARE-NII> 2.13
<PER-SHARE-GAIN-APPREC> (1.48)
<PER-SHARE-DIVIDEND> 0.56
<PER-SHARE-DISTRIBUTIONS> 0.63
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.36
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX TAX EXEMPT FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 022
<NAME> IDEX TAX EXEMPT/CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 24,283
<INVESTMENTS-AT-VALUE> 24,503
<RECEIVABLES> 1,593
<ASSETS-OTHER> 775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,871
<PAYABLE-FOR-SECURITIES> 997
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70
<TOTAL-LIABILITIES> 1,067
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,361
<SHARES-COMMON-STOCK> 17
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 49
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 174
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 220
<NET-ASSETS> 25,804
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,564
<OTHER-INCOME> 0
<EXPENSES-NET> 268
<NET-INVESTMENT-INCOME> 1,296
<REALIZED-GAINS-CURRENT> 222
<APPREC-INCREASE-CURRENT> 3
<NET-CHANGE-FROM-OPS> 1,521
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4
<DISTRIBUTIONS-OF-GAINS> 164
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2,051)
<ACCUMULATED-NII-PRIOR> 68
<ACCUMULATED-GAINS-PRIOR> 37
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 160
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 268
<AVERAGE-NET-ASSETS> 101
<PER-SHARE-NAV-BEGIN> 11.34
<PER-SHARE-NII> 2.06
<PER-SHARE-GAIN-APPREC> (1.48)
<PER-SHARE-DIVIDEND> 0.49
<PER-SHARE-DISTRIBUTIONS> 0.56
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.36
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM
THE FINANCIAL STATEMENTS OF IDEX TAX EXEMPT FOR THE
PERIOD ENDED SEPTEMBER 30, 1996, AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000787623
<NAME> IDEX SERIES FUND
<SERIES>
<NUMBER> 023
<NAME> IDEX TAX EXEMPT/CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLAR
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> SEP-30-1996
<PERIOD-END> SEP-30-1996
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 24,283
<INVESTMENTS-AT-VALUE> 24,503
<RECEIVABLES> 1,593
<ASSETS-OTHER> 775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,871
<PAYABLE-FOR-SECURITIES> 997
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70
<TOTAL-LIABILITIES> 1,067
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,361
<SHARES-COMMON-STOCK> 80
<SHARES-COMMON-PRIOR> 40
<ACCUMULATED-NII-CURRENT> 49
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 174
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 220
<NET-ASSETS> 25,804
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,564
<OTHER-INCOME> 0
<EXPENSES-NET> 268
<NET-INVESTMENT-INCOME> 1,296
<REALIZED-GAINS-CURRENT> 222
<APPREC-INCREASE-CURRENT> 3
<NET-CHANGE-FROM-OPS> 1,521
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 26
<DISTRIBUTIONS-OF-GAINS> 164
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 66
<NUMBER-OF-SHARES-REDEEMED> 28
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> (2,051)
<ACCUMULATED-NII-PRIOR> 68
<ACCUMULATED-GAINS-PRIOR> 37
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 160
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 268
<AVERAGE-NET-ASSETS> 556
<PER-SHARE-NAV-BEGIN> 11.34
<PER-SHARE-NII> 2.10
<PER-SHARE-GAIN-APPREC> (1.48)
<PER-SHARE-DIVIDEND> 0.53
<PER-SHARE-DISTRIBUTIONS> 0.60
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.36
<EXPENSE-RATIO> 1.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<PAGE>
</TABLE>
To the Trustees of
IDEX Series Fund
In planning and performing our audit of the financial statements of IDEX Series
Fund (the "Fund") for the year ended September 30, 1996, we considered its
internal control structure, including procedures for safeguarding securities, in
order to determine our auditing procedures for the purposes of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on the internal control structure.
The management of the Fund is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that the assets are appropriately
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions.
However, we noted no matters involving the internal control structure, including
procedures for safeguarding securities, that we consider to be material
weaknesses as defined above as of September 30, 1996.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
PRICE WATERHOUSE LLP
Kansas City, Missouri
November 8, 1996
IMPORTANT NOTICE
Please complete the enclosed proxy card and return it as
soon as possible in the
enclosed postage paid envelope; or for your convenience, you
may vote by calling
toll-free at 1- 800-293-5871, 24 hours a day. When voting
by telephone, please
enter your 10-digit control number, which is located on
your proxy card. A
confirmation of your telephone vote will be mailed to you.
NOTE: You cannot vote by telephone if your shares are held
in the name of your
brokerage firm (a "street name account"). If you have a
street name account,
please complete your proxy card and return it to your
broker. Your vote is still
important.
IDEX FUND
IDEX FUND 3
201 HIGHLAND AVENUE
LARGO, FLORIDA 33770-2597
July 25, 1996
Dear Fellow Shareholder:
You are cordially invited to attend the joint special
meeting of shareholders of
IDEX Fund and IDEX Fund 3 that will be held at 201
Highland Avenue, Largo,
Florida on September 16, 1996 at 10:00 a.m., local time.
A Prospectus/Proxy
Statement, which gives you information about the purpose of
the meeting, and a
form of proxy for you to cast your vote, are included with
this letter. This
will be an important meeting and we hope you will read
the Prospectus/Proxy
Statement carefully and that you will vote.
The Prospectus/Proxy Statement asks you to approve the
proposed reorganization
of IDEX Fund and IDEX Fund 3 (the "Funds") and the
transactions contemplated
thereby (the "Reorganization"), pursuant to which the Funds
will be reorganized
and become part of IDEX II Growth Portfolio of the IDEX
II Series Fund. If
approved, it is anticipated that the Reorganization will
be implemented on or
about September 20, 1996. The shareholders of both IDEX
Fund and IDEX Fund 3
must approve the Reorganization. If the Reorganization is
approved, IDEX Fund
and IDEX Fund 3 will be dissolved, and the shareholders
of IDEX Fund and IDEX
Fund 3 will automatically become holders of a separate
class of shares of IDEX
II Growth Portfolio, to be designated Class T Shares (the
"Class T Shares"). The
Reorganization will be a tax-free Reorganization,
therefore, no gain or loss
will result to the Funds, their shareholders, or the
IDEX II Series Fund.
Pre-liquidating distributions will be made to shareholders
of the Funds prior to
the closing of the Reorganization.
IDEX II Growth Portfolio has the same investment objective
and policies as each
of the Funds. Your rights and responsibilities as a
shareholder of IDEX Fund
and/or IDEX Fund 3 will not be materially affected
by the proposed
Reorganization. The adviser, sub-adviser, portfolio
manager, principal
underwriter and other service providers for each of the
Funds currently are the
same as those for the IDEX II Growth Portfolio. Like the
shares of IDEX Fund and
IDEX Fund 3, Class T Shares of the IDEX II Growth Portfolio
will be sold subject
to a maximum initial 8.50% sales charge, but will not
be subject to ongoing
annual 12b-1 distribution or service fees. Class T
Shares are not currently
anticipated to be offered or sold to new investors.
<PAGE>
The Reorganization is part of an effort by the IDEX Group of
Funds to reduce the
number of separately organized investment companies in
the IDEX Group, and to
combine the prospectuses, statements of additional
information, and shareholder
reports for funds that are currently separately organized.
We anticipate that
the Reorganization should result over time in a reduction in
the level of future
operating expenses associated with maintaining IDEX
Fund and IDEX Fund 3 as
separate entities as compared with combining them into the
Class T Shares of the
Growth Portfolio, as well as economies of scale and more
efficient operations.
In addition, it is anticipated that the Reorganization
will result in lower
advisory fees because the combined assets of the
Portfolio after the
Reorganization will enable all Class T shareholders
(including former IDEX Fund
and IDEX Fund 3 shareholders) to reach advisory fee
breakpoints currently in
effect for the Portfolio. For more detailed information,
please read "Reasons
for the Reorganization" in the Prospectus/Proxy
Statement included with this
letter. Your Trustees have recently reviewed and
unanimously endorsed the
Reorganization as being in the best interests of the
shareholders of IDEX Fund
and IDEX Fund 3. Trustees of IDEX II Series Fund have
recently reviewed and
unanimously endorsed the Reorganization as being in the
best interests of the
shareholders of IDEX II Growth Portfolio and IDEX II Series
Fund. YOUR TRUSTEES
RECOMMEND A VOTE FOR THE REORGANIZATION.
We realize that this Prospectus/Proxy Statement is detailed
and technical and we
hope this letter presents a concise overview of the
Reorganization. We hope you
will be able to attend the meeting and would welcome the
opportunity to meet you
and discuss any questions you might have about the
Funds and IDEX II Growth
Portfolio. YOUR VOTE IS IMPORTANT, REGARDLESS OF THE
NUMBER OF SHARES YOU OWN.
PLEASE TAKE A FEW MINUTES TO REVIEW THIS MATERIAL,
CAST YOUR VOTE ON THE
ENCLOSED PROXY CARD AND RETURN THE PROXY CARD IN THE
ENCLOSED POSTAGE-PAID
ENVELOPE OR, IF MORE CONVENIENT, PLEASE TELEPHONE YOUR
VOTE, FOLLOWING THE
INSTRUCTIONS IN THE BOX AT THE TOP OF THIS LETTER. PLEASE
VOTE EACH PROXY YOU
RECEIVE. Your prompt response will help avoid the
necessity and expense of
sending follow up letters to obtain a quorum.
The Funds are using Shareholder Communications Corporation,
a professional proxy
solicitation firm, to assist shareholders in the voting
process. As the date of
the meeting approaches, if we have not already heard from
you, you may receive a
telephone call from Shareholder Communications
Corporation reminding you to
exercise your right to vote.
Thank you for your prompt response. We look forward to
seeing you at the
meeting.
/S/ JOHN R. KENNEY /S/ G. JOHN
HURLEY
John R. Kenney G. John Hurley
Chairman of the Board President and
Chief Executive Officer
<PAGE>
IF YOU ARE A SHAREHOLDER OF MORE THAN ONE OF THE FUNDS
INVOLVED IN THE MEETING,
YOU WILL RECEIVE A PROXY STATEMENT AND PROXY CARD
RELATING TO SHARES OF EACH
FUND. PLEASE BE CERTAIN TO VOTE, WITH RESPECT TO EACH PROXY
CARD, EITHER BY MAIL
OR BY TELEPHONE.
IDEX FUND
IDEX FUND 3
201 HIGHLAND AVENUE
LARGO, FLORIDA 33770-2597
(800) 851-9777
NOTICE OF A SPECIAL MEETING OF
SHAREHOLDERS
SEPTEMBER 16, 1996
To the respective shareholders of IDEX Fund and IDEX Fund 3:
Notice is hereby given that a special meeting of the
shareholders of IDEX Fund
and IDEX Fund 3 (each, a "Fund" and collectively, the
"Funds"), respectively,
will be held jointly at 201 Highland Avenue, Largo,
Florida, on the 16th day of
September, 1996, at 10:00 a.m., local time, or any
adjournment(s) thereof, for
the following purpose:
1. To approve a proposed Agreement and Plan of
Reorganization and Liquidation
dated May 31, 1996 among the Funds and IDEX II Series
Fund, on behalf of
its IDEX II Growth Portfolio, providing for the
transfer of all of the
assets of IDEX Fund and IDEX Fund 3 to IDEX II Growth
Portfolio in exchange
for Class T Shares of IDEX II Growth Portfolio having
a value equal to the
aggregate net asset value of the IDEX Fund and IDEX
Fund 3 shares, and the
redemption of all outstanding shares of IDEX Fund
and IDEX Fund 3 by
distributing to holders thereof Class T Shares of IDEX
II Growth Portfolio
equal in value to the IDEX Fund and IDEX Fund 3 shares
redeemed.
The Boards of Trustees of IDEX Fund and IDEX Fund 3 have
fixed the close of
business on July 18, 1996, as the record date for
the determination of
shareholders of each Fund entitled to notice of, and to
vote at, the meeting.
You are entitled to vote at the meeting and any
adjournment(s) thereof if you
owned shares of either of the Funds at the close of
business on July 18, 1996.
If you attend the meeting, you may vote your shares in
person. If you do not
expect to attend the meeting, please either complete, date,
sign and return the
enclosed proxy card in the enclosed postage paid envelope,
or vote by calling
toll-free at1-800-293-5871, 24 hours a day. A
confirmation of your telephone
vote will be mailed to you. NOTE: You cannot vote by
telephone if your shares
are held in the name of your brokerage firm (a "street name
account"). If you
have a street name account, please complete your proxy
card and return it to
your broker. Your vote is still important. If you mail your
vote by proxy ballot
or cast your vote by telephone and then decide to attend
the meeting, you may
change your vote in person at the meeting.
By Order of
the Board of Trustees,
/S/ BECKY
A. FERRELL
Becky A.
Ferrell, Vice President,
Counsel and
Secretary
IDEX Fund
IDEX Fund 3
Largo,
Florida
July 25, 1996
YOUR VOTE IS IMPORTANT
NO MATTER HOW MANY SHARES YOU OWN
Please indicate your voting instructions on the enclosed
proxy card, date and
sign the card, and return it in the envelope provided, or
vote by telephone as
instructed above. If you sign, date and return the proxy
card but give no voting
instructions, your shares will be voted "FOR" the
Reorganization. In order to
avoid the additional expense and delay of further
solicitation, we ask for your
cooperation in voting.
<PAGE>
PROSPECTUS/PROXY STATEMENT DATED JULY 25,
1996
IDEX FUND
IDEX FUND 3
201 HIGHLAND AVENUE
LARGO, FLORIDA 33770-2597
(TOLL FREE) 1-800-851-9777
This Prospectus/Proxy Statement is a joint proxy
statement for IDEX Fund and
IDEX Fund 3 (each, a "Fund" and collectively, the
"Funds") furnished in
connection with the solicitation of proxies by the
respective Boards of Trustees
of IDEX Fund and IDEX Fund 3 to be used at each Fund's
special meeting of
shareholders or any adjournment(s) thereof (the "Meeting").
The Meeting will be
held jointly on September 16, 1996 at 10:00 a.m., local
time, at 201 Highland
Avenue, Largo, Florida 33770- 2597.
The primary purpose of the Meeting is to vote on the
proposed reorganization of
IDEX Fund and IDEX Fund 3 into the Growth Portfolio of IDEX
II Series Fund (the
"Portfolio"). The proposed reorganization (the
"Reorganization") will be
effected in accordance with the Agreement and Plan of
Reorganization and
Liquidation attached hereto as Exhibit A (the "Plan"). The
Reorganization will
be effected by the transfer of all of the assets of each
Fund to the Portfolio
in exchange solely for shares of beneficial interest,
no par value, in the
Portfolio of a class to be established for this purpose and
designated Class T
shares (the "Class T Shares"), and the assumption by the
Portfolio of all of the
liabilities of each Fund. The Class T Shares would then be
distributed pro rata
to the respective shareholders of IDEX Fund and IDEX Fund
3, and IDEX Fund and
IDEX Fund 3 would be liquidated. As a result of and on the
effective date of the
Reorganization, each respective shareholder of IDEX Fund
and IDEX Fund 3 would
receive a number of full and fractional Class T Shares
which, although they may
be a different number of shares from the number of shares
of IDEX Fund and/or
IDEX Fund 3 formerly owned by such shareholders, will
have a total net asset
value equal to the net asset value of the respective
shareholder's IDEX Fund and
IDEX Fund 3 shares on the effective date of the
Reorganization.
IDEX II Series Fund is an open-end diversified management
investment company
organized as a Massachusetts business trust, and
currently has eleven series:
IDEX II Growth, Global, Flexible Income, Tax-Exempt,
Income Plus, Aggressive
Growth, Equity-Income, Balanced, Capital Appreciation,
Tactical Asset Allocation
and C.A.S.E. Portfolios. The IDEX II Growth Portfolio is
a series of IDEX II
Series Fund. The shares of beneficial interest of each
series are currently
divided into three classes: Class A, Class B and Class C
shares. Each class
represents an interest in the same assets of the
Portfolio. The current
Prospectus for IDEX II Series Fund contains a detailed
description regarding the
differences in the classes of shares of each series of IDEX
II Series Fund that
are currently offered to investors. The only
investment objective of the
Portfolio is growth of capital.
This Prospectus/Proxy Statement, which should be retained
for future reference,
sets forth concise information about the proposed
Reorganization and about the
Class T Shares of the Growth Portfolio that an investor
should know before
voting on the proposed Reorganization. A copy of the
current prospectus of IDEX
Fund and of IDEX Fund 3, each dated March 1, 1996, have
been filed with the
Securities and Exchange Commission ("SEC") and are
incorporated by reference
herein. Copies of each Fund prospectus, and the
Statement of Additional
Information for each Fund, may be obtained without charge
by contacting IDEX
Mutual Funds, 201 Highland Avenue, Largo Florida 33770-
2597, or by calling
toll-free 1-800-851-9777. Copies can also be inspected and
copied at the Public
Reference Room maintained by the SEC at 450 Fifth Street,
N.W., Washington, D.C.
20549, and obtained from the Public Reference Branch Office
of Consumer Affairs
and Information Services, SEC, Washington, D.C. 20559, at
prescribed rates. In
addition, the current prospectus of the IDEX II Series
Fund dated February 1,
1996 (which contains information regarding the Portfolio),
is included with this
Prospectus/Proxy Statement, and is also incorporated by
reference herein.
A Statement of Additional Information dated February 1,
1996 of the IDEX II
Series Fund (which contains information regarding the
Portfolio) and Statements
of Additional Information for IDEX Fund and IDEX Fund 3,
each dated March 1,
1996, have been filed with the SEC and are incorporated
by reference herein.
Copies of these documents may also be obtained without
charge by contacting IDEX
Mutual Funds, 201 Highland Avenue, Largo, Florida 33770-
2597, or by calling
toll-free 1-800-851-9777.
A Statement of Additional Information dated July 25,
1996, relating to the
proposed Reorganization, including historical and
pro forma financial
statements, has been filed with the SEC and is incorporated
by reference herein.
Copies of this Statement of Additional Information may
be obtained without
charge by contacting IDEX Mutual Funds, 201 Highland
Avenue, Largo, Florida
33770-2597, or by calling toll-free 1-800-851-9777.
THESE SECURITIES ARE NOT DEPOSITS OR OBLIGATIONS OF, OR
GUARANTEED OR ENDORSED
BY, THE FEDERAL DEPOSIT INSURANCE CORPORATION, THE FEDERAL
RESERVE BOARD, OR ANY
OTHER AGENCY.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED
BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION,
NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION
TO THE CONTRARY IS A
CRIMINAL OFFENSE.
<PAGE>
TABLE OF CONTENTS
Introduction and Voting
Information...........................................1
Approval of a Proposed Agreement and Plan of Reorganization
and Liquidation
for the Funds and the Transactions Contemplated
Thereby...................3
Summary.....................................................
..................3
The Proposed
Reorganization..............................................
.....3
Operation of the Portfolio After the
Reorganization...........................3
IDEX II Series
Fund........................................................
...4
Management and Distribution
Fees..............................................5
Summary of
Expenses....................................................
.......5
Principal Risk
Factors.....................................................
...8
The
Reorganization..............................................
..............8
Agreement and Plan of Reorganization and
Liquidation..........................8
Reasons for the
Reorganization..............................................
..9
Investment Objectives and
Policies...........................................10
Tax
Considerations..............................................
.............10
Expenses of the
Reorganization..............................................
.10
Appraisal
Rights......................................................
.......11
Purchases and
Exchanges...................................................
...11
Redemption
Procedures..................................................
......12
Dividends and
Distributions...............................................
...12
Comparison of Investment Objectives and
Policies.............................12
Description of Securities To Be
Issued.......................................12
Capitalization..............................................
.................13
Ratios......................................................
.................14
Miscellaneous...............................................
.................15
Additional Available
Information....................................15
Legal
Matters.....................................................
..15
Experts.....................................................
........16
Shareholder
Proposals...............................................16
Other
Business....................................................
..16
Agreement and Plan of Reorganization And
Liquidation.................Appendix A
IDEX II Growth Portfolio Excerpt from
IDEX II Series Fund's Annual Report to
Shareholders Dated September 30,
1995.......................................*
Prospectus of IDEX II Series Fund dated February 1,
1996......................*
*Enclosed Herewith
<PAGE>
INTRODUCTION AND VOTING INFORMATION
This document is a joint Prospectus/Proxy Statement for
IDEX Fund and IDEX Fund
3 (each, a "Fund" and collectively, the "Funds")
furnished to shareholders of
the Funds in connection with the solicitation of proxies
by the respective
Boards of Trustees of IDEX Fund and IDEX Fund 3, to be
used at each Fund's
special meeting of shareholders or any adjournment(s)
thereof (the "Meeting").
The Meeting will be held jointly on September 16, 1996
at 10:00 a.m., local
time, at 201 Highland Avenue, Largo, Florida 33770-2597,
for the purposes set
forth in the Notice of the Special Meeting.
Shareholders of record of each Fund at the close of
business on July 18, 1996
(the "Record Date") will be entitled to vote at the
Meeting. Shareholders are
entitled to one vote for each share held and fractional
votes for fractional
shares held. A majority of the shares of beneficial interest
outstanding on the
Record Date, represented in person or by proxy, of a
Fund will constitute a
quorum for the Meeting and therefore must be present for
the transaction of
business at that Fund's Meeting. In the event that for
either Fund a quorum is
not present at the Meeting, or a quorum is present but
sufficient votes to
approve the Reorganization are not received, the persons
named as proxies may
propose one or more adjournments of that Fund's Meeting
to permit further
solicitation of proxies. Any such adjournment will require
the affirmative vote
of a majority of that Fund's shares represented at the
Meeting in person or by
proxy. The persons named as proxies will vote those
proxies that they are
entitled to vote FOR the Reorganization in favor of an
adjournment and will vote
those proxies required to be voted AGAINST the
Reorganization against such
adjournment. A shareholder vote may be taken on the
Reorganization proposed in
this Prospectus/Proxy Statement prior to any such
adjournment if sufficient
votes have been received and it is otherwise appropriate.
The individuals named as proxies in the enclosed proxy
card will vote in
accordance with your directions, if your proxy is received
properly executed. If
you properly execute your proxy and give no voting
instructions with respect to
the Reorganization, your shares will be voted FOR the
Reorganization. The duly
appointed proxies may, in their discretion, vote upon such
other matters as may
properly come before the Meeting.
Abstentions and "broker non-votes" (as defined below)
are counted as shares
eligible to vote at the Meeting in determining whether a
quorum is present, but
do not represent votes cast with respect to the
Reorganization. "Broker
non-votes" are shares held by a broker or nominee as to
which instructions have
not been received from the beneficial owners or persons
entitled to vote and the
broker or nominee does not have discretionary voting power.
You may revoke your proxy: (a) at any time prior to its
exercise by written
notice of its revocation to the Secretary of the
applicable Fund at the above
address prior to the Meeting; (b) by the subsequent
execution and return of
another proxy prior to the Meeting; or (c) by being present
and voting in person
at the Meeting and giving oral notice of revocation to
the Chairman of the
Meeting.
Shareholders of a Massachusetts business trust such as a
Fund are not entitled
to appraisal rights (i.e., to demand fair value of their
shares) in the event of
a reorganization. Consequently, the shareholders of each
of the Funds will be
bound by the terms of the Reorganization, if approved. Any
shareholder of a Fund
may, however, redeem his or her Fund shares at net asset
value prior to the
closing date of the Reorganization.
The Reorganization must be approved by a majority of the
outstanding shares of
the particular Fund, which is defined as the lesser of (1)
the affirmative vote
of 67% or more of the shares of the Fund present at the
Meeting if the holders
of more than 50% of the outstanding shares are present in
person or by proxy, or
(2) the vote of more than 50% of the outstanding
shares of the Fund.
CONSUMMATION OF THE REORGANIZATION WILL REQUIRE THE
AFFIRMATIVE VOTE OF A
MAJORITY OF OUTSTANDING SHARES OF BOTH IDEX FUND AND IDEX
FUND 3.
As of the Record Date, IDEX Fund and IDEX Fund 3 had
16,027,339.911 and
9,408,555.435 shares of beneficial interest outstanding,
respectively. As of the
Record Date, State Street Bank and Trust Company as
Trustee for the ConAgra
Retirement Income Savings Plan, Boston, Massachusetts, owned
of record 22.93% of
the outstanding shares of IDEX Fund. As of the Record
Date, IDEX II Growth
Portfolio had 24,194,166.485 shares of beneficial interest
outstanding. To the
knowledge of IDEX Fund 3 and IDEX II Growth Portfolio, as of
the Record Date, no
shareholder owned beneficially more than 5% of the
outstanding shares of either
the Fund or the Portfolio.
1
<PAGE>
The principal solicitation of proxies will be by the
mailing of this joint
Prospectus/Proxy Statement on or about July 26, 1996, but
proxies may also be
solicited by telephone and/or in person by representatives
of each Fund, regular
employees of Idex Investor Services, Inc., the transfer
agent of each Fund, or
its affiliate(s), certain broker-dealers (who may be
specifically compensated
for such services), and representatives of any
independent proxy solicitation
service retained for the meeting. It is anticipated
that the cost of such
supplementary solicitation, if any, will be nominal.
Arrangements will be made
with brokerage houses and other custodians, nominees, and
fiduciaries to forward
proxies and proxy materials to their principals. The
costs of the meeting,
including the preparation and mailing of the notice,
Prospectus/Proxy Statement
and proxy, and the solicitation of proxies,
including reimbursement to
broker-dealers and others who forward proxy materials to
their clients, will be
borne by the Funds.
Shareholder Communications Corporation ("SCC"), an
independent proxy
solicitation service, may be engaged to assist in the
solicitation of proxies.
As the meeting date approaches, certain shareholders of the
Funds may receive a
call from a representative of SCC if the Funds have not yet
received their vote.
Authorization to permit SCC to execute proxies may be
obtained from shareholders
of the Funds by telephonic instructions. Proxies
that are obtained
telephonically will be recorded in accordance with the
procedures set forth
below. Management of the Funds believes that these
procedures are reasonably
designed to ensure that the identity of the shareholder
casting the vote is
accurately determined and that the voting instructions of
the shareholder are
accurately reflected. Management of the Funds believes that
the telephone voting
procedures comply with applicable state law.
In all cases where a telephonic proxy is solicited, the SCC
representative is
required to ask the shareholder for such shareholder's
full name, address,
social security or employer identification number, title
(if the person giving
the proxy is authorized to act on behalf of an entity, such
as a corporation),
the number of shares owned, and to confirm that the
shareholder has received the
Prospectus/Proxy Statement in the mail. If the information
solicited agrees with
the information provided to SCC by the Funds, then the SCC
representative has
the responsibility to explain the process, read the proposal
listed on the proxy
card, and ask for the shareholder's instructions on such
proposal. The SCC
representative, although he or she is permitted to answer
questions about the
solicitation process, is not permitted to recommend to the
shareholder how to
vote, other than to read any recommendation set forth in
the Prospectus/Proxy
Statement. SCC will record the shareholder's instructions on
the card. Within 72
hours, SCC will send the shareholder a letter or
mailgram to confirm the
shareholder's vote and asking the shareholder to call SCC
immediately if the
shareholder's instructions are not correctly reflected in
the confirmation.
If a shareholder wishes to participate in the Meeting, but
does not wish to give
a proxy by telephone, such shareholder may still
submit the proxy card
originally sent with the Prospectus/Proxy Statement or
attend the Meeting in
person. Any proxy given by a shareholder, whether in writing
or by telephone, is
revocable. A shareholder may revoke the accompanying
proxy or a proxy given
telephonically at any time prior to its use by filing with
the Funds a written
revocation or duly executed proxy bearing a later date.
In addition, any
shareholder who attends the Meeting in person may vote by
ballot at the Meeting,
thereby cancelling any proxy previously given.
The shareholders of each of IDEX Fund and IDEX Fund 3 are
being asked to approve
the proposed Reorganization pursuant to which all of the
assets of the Funds
would be transferred to the Portfolio in exchange for
Class T Shares of the
Portfolio and the assumption by the Portfolio of all of the
Funds' liabilities.
Consummation of the Reorganization is conditioned upon
the approval of the
Reorganization by shareholders of IDEX Fund and by
shareholders of IDEX Fund 3.
THE BOARD OF TRUSTEES OF EACH OF THE FUNDS RECOMMENDS
THAT YOU VOTE "FOR" THE
APPROVAL OF THE REORGANIZATION.
2
<PAGE>
APPROVAL OF A PROPOSED AGREEMENT
AND PLAN OF REORGANIZATION AND
LIQUIDATION
FOR THE FUNDS AND THE TRANSACTIONS CONTEMPLATED
THEREBY
SUMMARY
The following is a summary of certain information
contained elsewhere in this
Prospectus/Proxy Statement, the respective Prospectuses
of IDEX Fund, IDEX II
Series Fund and IDEX Fund 3, and the Plan. Shareholders
should read the entire
Prospectus/Proxy Statement carefully.
THE PROPOSED REORGANIZATION
The purpose of each Meeting is to vote on the proposed
Reorganization of IDEX
Fund and IDEX Fund 3 into the IDEX II Growth Portfolio, a
separate series of
IDEX II Series Fund, which, like the Funds, is a
Massachusetts business trust.
In order to effect the Reorganization, the shareholders
of each Fund must
approve the Plan, the form of which is attached to
this Prospectus/Proxy
Statement as Exhibit A. The Reorganization will involve
the transfer of all of
the assets of each Fund in exchange solely for shares of
beneficial interest, no
par value, in the Portfolio, of a class to be established
for this purpose and
designated Class T Shares (the "Class T Shares"); and the
assumption by the
Portfolio of all of the liabilities of each Fund. The Class
T Shares would then
be distributed pro rata to the respective shareholders of
each Fund in complete
liquidation of such Fund. The Trustees of each Fund, at a
meeting held on May
22, 1996, approved the Plan. The Plan was executed on May
31, 1996.
The investment objective, policies and restrictions of the
Portfolio following
the Reorganization will be identical in all respects to
the current investment
objective, policies and restrictions of each Fund. IN THE
VIEW OF MANAGEMENT OF
THE FUNDS, THE RIGHTS OF FUND SHAREHOLDERS WILL NOT BE
MATERIALLY AFFECTED BY
THE REORGANIZATION. CLASS T SHARES OF THE PORTFOLIO WILL
NOT BE SUBJECT TO A
PLAN OF DISTRIBUTION ADOPTED PURSUANT TO RULE 12B-1;
THEREFORE, NO 12B-1
DISTRIBUTION OR SERVICE FEES WILL BE APPLICABLE TO
CLASS T SHARES. CLASS T
SHARES WILL NOT BE OFFERED OR SOLD TO NEW INVESTORS; ONLY
EXISTING SHAREHOLDERS
OF A FUND AS OF THE DATE OF THE PROPOSED REORGANIZATION
WILL BE PERMITTED TO
PURCHASE CLASS T SHARES AND TO RECEIVE ANY
DIVIDENDS OR CAPITAL GAIN
DISTRIBUTIONS IN ADDITIONAL CLASS T SHARES FOLLOWING
THE REORGANIZATION.
FINALLY, EACH FUND AND IDEX II SERIES FUND HAVE RECEIVED
AN OPINION OF COUNSEL
THAT THE REORGANIZATION WILL BE A TAX-FREE REORGANIZATION
AND THEREFORE WILL
RESULT IN NO TAX CONSEQUENCES, OTHER THAN A PRE-
LIQUIDATING DISTRIBUTION TO
SHAREHOLDERS OF THE FUNDS PRIOR TO THE CLOSING OF THE
REORGANIZATION.
The consummation of the Reorganization is subject to a
number of conditions set
forth in the Plan. Among other conditions, it is a
condition of the proposed
Reorganization that the shareholders of each of the Funds
shall have approved
the Plan and the transactions contemplated thereby.
After the closing of the
Reorganization, the name of IDEX II Series fund will be
changed to IDEX Series
Fund.
OPERATION OF THE PORTFOLIO AFTER THE REORGANIZATION
Implementation of the Reorganization will not result in any
material change with
respect to the nature of the investment owned by former Fund
shareholders. The
investment adviser, sub-adviser, principal underwriter
and other service
providers currently employed by each of the Funds also
currently serve in such
capacities for the Portfolio. The portfolio manager for the
Funds currently also
serves as portfolio manager for the Portfolio. The Board of
Trustees of IDEX II
Series Fund has approved a Management and Investment
Advisory Agreement pursuant
to which Idex Management, Inc. ("IMI") serves as the
Portfolio's investment
adviser which has terms substantially identical to the
Management and Investment
Advisory Agreement currently in effect between each
Fund and IMI (see
"Management and Distribution Fees," below). Similarly, the
Board of Trustees of
IDEX II Series Fund has approved an Investment Counsel
Agreement pursuant to
which Janus Capital Corporation ("Janus Capital") serves as
the sub-adviser for
the Portfolio which has terms substantially identical to
the Investment Counsel
Agreement currently in effect between IMI and Janus Capital
with respect to each
Fund.
3
<PAGE>
InterSecurities, Inc. ("ISI") serves, and upon
implementation of the
Reorganization, will continue to serve, as the principal
underwriter of the
Portfolio (including its Class T Shares) pursuant to an
Underwriting Agreement
which is the same, in all material respects, as the
Underwriting Agreement
currently in effect between the Funds and ISI except
those changes to the
Underwriting Agreement that are deemed necessary and
appropriate to facilitate
the offering of the Class T Shares, and are approved by the
Trustees of IDEX II
Series Fund, including the Trustees of IDEX II
Series Fund who are not
"interested persons" of IDEX II Series Fund or of the
Funds, as that term in
defined in the Investment Company Act of 1940, as
amended ("Independent
Trustees"). ISI also serves as the administrator of the
IDEX II Series Fund and
the Portfolio pursuant to an Administrative Services
Agreement virtually
identical to the Administrative Services Agreement
currently in effect between
IMI and ISI with respect to each of the Funds. Similarly,
custodian and transfer
agency arrangements with Investors Fiduciary Trust
Company and Idex Investor
Services, Inc., respectively, for the IDEX II Series Fund
and the Portfolio are
anticipated to be identical to the arrangements currently in
effect with respect
to each of the Funds. In addition, Price Waterhouse
LLP serves as the
independent accountants of IDEX Fund, IDEX Fund 3 and IDEX
II Series Fund.
For the reasons set forth below under "Reasons for the
Reorganization," the
Board of Trustees of each Fund, including the
Independent Trustees, has
concluded that the Reorganization is in the best interests
of such Fund and that
the interests of its shareholders will not be diluted or
otherwise adversely
affected as a result of the Reorganization. Accordingly,
each Fund's Board of
Trustees recommends approval of the Reorganization.
IDEX II SERIES FUND
Like the Funds, IDEX II Series Fund is an open-end,
diversified management
investment company, organized as a business trust
under the laws of the
Commonwealth of Massachusetts pursuant to a Declaration of
Trust dated January
7, 1986. The operations of IDEX II Series Fund are governed
by a Restatement of
Declaration of Trust dated August 30, 1991 ("Declaration of
Trust"), its Bylaws
and Massachusetts law. IDEX II Series Fund is subject to
the provisions of the
1940 Act and the rules and regulations of the SEC
thereunder. IDEX II Series
Fund is a "series fund"; it issues its shares in
series, with each series
representing a separately managed portfolio of securities.
IDEX II Series Fund
currently consists of eleven series: IDEX II Growth,
Global, Flexible Income,
Tax-Exempt, Income Plus, Aggressive Growth, Equity-Income,
Balanced, Capital
Appreciation, Tactical Asset Allocation and C.A.S.E.
Portfolios. The fiscal year
of each series of IDEX II Series Fund currently ends on
September 30, although
the Board of Trustees of IDEX II Series Fund recently
approved a change in the
fiscal year end of IDEX II Series Fund to October 31. This
change is expected to
take effect during calendar year 1996. Like the Funds, each
separate portfolio
of IDEX II Series Fund is authorized by its Board of
Trustees to issue and sell
its shares in multiple classes. Currently, each Portfolio of
IDEX II Series Fund
offers for sale three classes of shares: Class A, Class B
and Class C shares.
See the current prospectus for IDEX II Series Fund
that accompanies this
Prospectus/Proxy Statement attached hereto for more
information about these
classes of shares.
In connection with the proposed Reorganization, the Board of
Trustees of IDEX II
Series Fund has created and designated Class T Shares as a
new separate class of
shares of IDEX II Growth Portfolio. Purchases of Class
T Shares of IDEX II
Growth Portfolio will be subject to a maximum 8.50%
initial sales charge as a
percentage of the public offering price of Class T Shares;
Class T Shares will
not be subject to annual service or distribution fees. It
is anticipated that
following the Reorganization, Class T Shares will be
offered and sold to former
shareholders of each Fund subject to the same terms,
including sales charges,
available discounts (including rights of accumulation and
letters of intention)
and reinvestment and exchange privileges, as the terms
currently applicable to
shares of each Fund (which are identical). It is not
currently anticipated that
Class T Shares will be available for sale to new
investors; however, former
shareholders of each Fund will be permitted to purchase
additional Class T
Shares and to receive any dividends or capital gain
distributions in additional
Class T Shares. Class T Shares will have designations,
powers, preferences,
rights (including redemption rights),
qualifications, limitations and
restrictions that are identical to those of the shares of
each Fund. No sales
charges will be imposed on Class T Shares acquired
pursuant to the
Reorganization.
4
<PAGE>
Subject to the provisions of its Declaration of Trust, the
business of IDEX II
Series Fund is managed by its Board of Trustees, who have
all powers necessary
and appropriate to carry out that responsibility. The Board
of Trustees of IDEX
II Series Fund is composed of the same individuals who
serve as the Trustees of
the Funds. The responsibilities, powers and fiduciary
duties of the Trustees of
IDEX II Series Fund are identical to those of the Trustees
of IDEX Fund and IDEX
Fund 3. IDEX II Growth Portfolio commenced operations on
May 8, 1986, and as of
March 31, 1996, had net assets of approximately $528
million.
MANAGEMENT AND DISTRIBUTION FEES
Pursuant to the Management and Investment Advisory Agreement
between IMI and the
Portfolio, IMI serves as the investment adviser of the
Portfolio and receives
from the Portfolio an annual fee, computed daily and paid
monthly, equal to
1.00% of the Portfolio's average daily net assets up to
$750 million, 0.90% of
its average daily net assets up to the next $250
million, and 0.85% of its
average daily net assets over $1 billion. This fee is
identical to the fee
received by IMI from IDEX Fund pursuant to its current
Management and Investment
Advisory Agreement with IMI. IDEX Fund 3 is currently
subject to an advisory fee
at an annual rate of 1.00% of average daily net assets
pursuant to its current
Management and Investment Advisory Agreement with
IMI; however, upon
implementation of the Reorganization, all Class T
shareholders (including former
IDEX Fund 3 shareholders) will receive the benefits of
lower advisory fees
payable by the Portfolio in light of the advisory fee
breakpoints currently in
effect for the Portfolio.
For Janus Capital's services as sub-adviser to the
Portfolio pursuant to the
Investment Counsel Agreement between IMI and Janus
Capital, IMI compensates
Janus Capital in the same manner as currently in effect
with respect to each
Fund pursuant to the Investment Counsel Agreement between
IMI and Janus Capital
for such Fund. Janus Capital receives 50% of the fees
received by IMI under the
Management and Investment Advisory Agreement, less 50% of
any amount reimbursed
to the Portfolio by IMI. In addition, as described more
fully in the Statements
of Additional Information for each of the Funds and for IDEX
II Series Fund, IMI
pays additional compensation to Janus Capital under
certain circumstances
depending on the level of the aggregate net assets of the
IDEX Group of Funds
for which Janus Capital serves as sub-adviser. The same
arrangement will apply
to the assets of the Funds that will be transferred to the
Portfolio pursuant to
the Reorganization.
In addition, ISI, as the principal underwriter of the
Portfolio, may receive
annual service and distribution fees in accordance with the
Plan of Distribution
in effect with respect to those classes of shares of the
Portfolio with respect
to which such Plan has been adopted pursuant to Rule 12b-1
under the 1940 Act.
See the current prospectus for IDEX II Series Fund
that accompanies this
Prospectus/Proxy Statement for more information about the
12b-1 Distribution
Plans currently in effect for each such class. CLASS T
SHARES WILL NOT BE
SUBJECT TO A 12B-1 PLAN OF DISTRIBUTION; THEREFORE, NO
12B-1 DISTRIBUTION OR
SERVICE FEES WILL BE APPLICABLE TO CLASS T SHARES.
SUMMARY OF EXPENSES
Please read this section carefully. The Class T Shares
will incur certain
expenses. The Fee Table shows the expenses involved in
owning shares of IDEX
Fund, IDEX Fund 3 or Class T Shares of the Growth
Portfolio (on a pro forma
basis). The Examples of Expenses show the expenses you
might pay when making a
hypothetical $1,000 investment.
5
<PAGE>
<TABLE>
<CAPTION>
FEE TABLE
IDEX FUND
IDEX FUND 3 PRO FORMA COMBINED
CLASS T SHARES OF IDEX
II SERIES FUND GROWTH
PORTFOLIO(7)
<S> <C>
<C> <C>
Shareholder Transaction Expenses
Maximum Sales Load Imposed on 8.50%
8.50% 8.50%
Purchases (as percentage of offering
price) (1)
Exchange Fees (2) None
None None
Redemption Fees (3) None
None None
Deferred Sales Charge (as a percentage None
None None
of original purchase price or
redemption proceeds, whichever is
lower) (4)
Annual Operating Expenses
(as a percentage of average net assets)
Management Fees 1.00%
1.00% 1.00%
12b-1 Service and Distribution Fees None
None None
Other Expenses (net of expense 0.39%
0.36% 0.34%
reimbursements and/or fee waivers, if
any (5)
Total Operating Expenses (net of 1.39%
1.36% 1.34%
expense reimbursements and/or fee
waivers, if any) (5)
<FN>
(1) On certain purchases, the sales load may
be reduced or waived.
Certain shares may be subject to a 1% deferred
sales charge. See
Note 4.
(2) Exchanges must be made in amounts of $500 or
more. No service fees
are currently charged for exchanges.
(3) A $20 service fee is charged for each redemption
transaction paid by
Federal funds bank wire or for overnight mail
delivery of check
redemptions.
(4) On sales in amounts greater than $1,000,000
on which no up-front
sales charge was imposed, a contingent deferred
sales charge of 1%
applies for twelve months.
(5) Other Expenses and Total Operating Expenses
of IDEX Fund and IDEX
Fund 3 are presented for the fiscal year ended
October 31, 1995.
Other Expenses and Total Operating Expenses
of IDEX Fund for the
period ended September 30, 1995 would have
been 0.43% and 1.43%,
respectively. Other Expenses and Total
Operating Expenses of IDEX
Fund for the period ended March 31, 1996 would
have been 0.33% and
1.33%, respectively. Other Expenses and Total
Operating Expenses of
IDEX Fund 3 for the period ended September 30,
1995 would have been
0.38% and 1.38%, respectively. Other Expenses
and Total Operating
Expenses of IDEX Fund 3 for the period ended
March 31, 1996 would
have been 0.31% and 1.31%, respectively. Other
Expenses and Total
Operating Expenses of Class T Shares of IDEX II
Series Fund Growth
Portfolio are based on estimated expenses for
the fiscal year ended
September 30, 1997. Short periods have been
annualized.
</FN>
</TABLE>
6
<PAGE>
<TABLE>
<CAPTION>
EXAMPLES OF EXPENSES
The examples below reflect the payment of Other Expenses at
the levels set forth
in the Fee Table above.
IDEX
FUND IDEX FUND 3 PRO FORMA COMBINED
CLASS T SHARES OF IDEX
II SERIES FUND GROWTH
PORTFOLIO (7)
S> <C> <C> <C>
Examples of Expenses: (6)
You would pay the following expenses
on a $1,000 investment, assuming (a) a
5% annual return and (b) redemption at
the end of each period:
1 year $98 $98 $97
3 years $125 $124 $124
5 years $155 $153 *
10 years $238 $235 *
<FN>
(6) The Examples assume all dividends and distributions
are paid in additional
shares and no payment of exchange or redemption fees.
(7) Pro Forma Combined Other Expenses and Total Operating
Expenses have been
estimated based upon the Pro Forma combined level of
net assets which will
result upon Reorganization of the Funds and other
anticipated economies of
scale. Actual operating expenses may be greater
than or less than
these estimates.
* Note: Pursuant to applicable rules, Portfolios that have
been in operation for
less than 10 months complete only one- and three-year
period portions of the
Examples.
</FN>
</TABLE>
The purpose of the preceding table as an owner of Class T
Shares of the IDEX II
Series Fund Growth Portfolio is to help you understand
the various costs and
expenses you might bear. For more information aboutthese
expenses, please read
"Management and Distribution Fees", "Expenses of the
Reorganization" and
"Description of Securities to be Issued."
EXPENSES SHOWN IN THE ABOVE EXAMPLES DO NOT REPRESENT
ACTUAL PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESS THAN THOSE
SHOWN. THE ASSUMED
5% ANNUAL RETURN IS ALSO HYPOTHETICAL. IT SHOULD
NOT BE CONSIDERED A
REPRESENTATION OR PREDICTION OF PAST OR FUTURE ANNUAL
RETURNS, WHICH MAY BE
GREATER OR LESS THAN 5%.
<TABLE>
<CAPTION>
EXAMPLES OF EXPENSES
The examples below reflect the payment of Other Expenses at
the levels set forth
in the Fee Table above.
IDEX
FUND IDEX FUND 3 PRO FORMA COMBINED
CLASS T SHARES OF IDEX
II SERIES FUND GROWTH
PORTFOLIO (7)
<S> <C> <C> <C>
Examples of Expenses: (6)
You would pay the following expenses
on a $1,000 investment, assuming (a) a
5% annual return and (b) redemption at
the end of each period:
1 year $98 $98 $97
3 years $125 $124 $124
5 years $155 $153 *
10 years $238 $235 *
<FN>
(6) The Examples assume all dividends and distributions
are paid in additional
shares and no payment of exchange or redemption fees.
(7) Pro Forma Combined Other Expenses and Total Operating
Expenses have been
estimated based upon the Pro Forma combined level of
net assets which will
result upon Reorganization of the Funds and other
anticipated economies of
scale. Actual operating expenses may be greater
than or less than
these estimates.
* Note: Pursuant to applicable rules, Portfolios that have
been in operation for
less than 10 months complete only one- and three-year
period portions of the
Examples.
</FN>
</TABLE>
The purpose of the preceding table as an owner of Class T
Shares of the IDEX II
Series Fund Growth Portfolio is to help you understand
the various costs and
expenses you might bear. For more information aboutthese
expenses, please read
"Management and Distribution Fees", "Expenses of the
Reorganization" and
"Description of Securities to be Issued."
EXPENSES SHOWN IN THE ABOVE EXAMPLES DO NOT REPRESENT
ACTUAL PAST OR FUTURE
EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESS THAN THOSE
SHOWN. THE ASSUMED
5% ANNUAL RETURN IS ALSO HYPOTHETICAL. IT SHOULD
NOT BE CONSIDERED A
REPRESENTATION OR PREDICTION OF PAST OR FUTURE ANNUAL
RETURNS, WHICH MAY BE
GREATER OR LESS THAN 5%.
7
<PAGE>
PRINCIPAL RISK FACTORS
As discussed above, the investment objectives, policies and
restrictions of IDEX
Fund and IDEX Fund 3 are identical to those of the
Portfolio. To the extent that
the investment objective (growth of capital) is identical,
the principal risks
of investment are also identical. These risk factors
include the following:
investments of the Portfolio may not appreciate in value or
may lose value, and
may react negatively to conditions in the securities
markets or changes in the
level of interest or other rates. The current prospectus
of each of the Funds
and of the Portfolio gives detailed descriptions of the
risk factors applicable
to certain investments.
THE REORGANIZATION
AGREEMENT AND PLAN OF REORGANIZATION AND LIQUIDATION
The terms and conditions of the Reorganization are set
forth in the Plan.
Significant provisions of the Plan are summarized below;
however, this summary
is qualified in its entirety by reference to the Plan as set
forth in Exhibit A.
In the Reorganization, if it is approved, all of the assets
of each Fund will be
acquired by the Portfolio in exchange solely for Class T
Shares of the Portfolio
and the assumption by the Portfolio of all of the Fund's
liabilities. The Class
T Shares will then be distributed to shareholders of
each Fund pro rata in
proportion to their respective Fund shares, and the Funds
will be liquidated.
Following the liquidation, the Funds will be
deregistered as investment
companies pursuant to the 1940 Act, and dissolved as a
matter of Massachusetts
law.
The Reorganization is anticipated to occur on September 20,
1996, or such other
date as the parties may agree (the "Closing Date"). As a
result of the proposed
Reorganization, each shareholder of each of the Funds
will receive Class T
Shares having a total net asset value as of the Closing
Date equal to the net
asset value of the shareholder's Fund shares as of the
Closing Date. The
investment objective, policies and restrictions of the
Portfolio after the
Reorganization are anticipated to be .identical to the
investment objective,
policies and restrictions of each of the Funds
immediately prior to the
Reorganization. Moreover, the rights and responsibilities of
the shareholders of
the Funds will be unchanged by the Reorganization. Finally,
each Fund and IDEX
II Series Fund have received an opinion of counsel to the
effect that there will
be no tax consequences for shareholders of the Funds as a
result of the exchange
of shares pursuant to the Reorganization. It is anticipated
that a Shareholder's
tax basis in Class T Shares of the Portfolio will
be the same as the
shareholder's tax basis in its Fund Shares as of the
Closing Date. See "Tax
Considerations" for more information.
The assets of the Funds to be acquired by the
Portfolio pursuant to the
Reorganization include without limitation all cash,
cash equivalents,
securities, receivables (including interest and dividends
receivable), claims
and rights of action, rights to register shares under
applicable securities
laws, books and records, and other property owned by the
Funds. The Portfolio
will assume all of the Funds' debts, liabilities,
obligations and duties of
whatever kind or nature. The Portfolio also will deliver
Class T Shares to the
Funds, which the Funds will then distribute to
shareholders of the Funds. The
value of assets to be acquired and liabilities to be assumed
by the Portfolio in
connection with the Reorganization and the net asset
value of a Class T Share
will be determined as of the close of regular trading
on the New York Stock
Exchange, Inc. ("NYSE") on the Closing Date, using the
valuation procedures set
forth in the Plan.
On the Closing Date or as soon as practicable
thereafter, the Funds will
liquidate and constructively distribute to their
shareholders of record as of
the Closing Date the Class T Shares received by the Funds
pro rata in proportion
to the net asset value of their respective Fund shares,
in liquidation and
redemption of their Fund shares. This liquidation and
distribution will be
accomplished by the transfer of the Class T Shares then
credited to the Funds'
account on the Portfolio's Class T share records to open
accounts on those
records in the name of each shareholder of the Funds,
whereupon the Fund shares
will be canceled. Each shareholder account will
represent the proportionate
number of the Class T Shares of the Portfolio due to
such Fund shareholder.
Fractional shares will be rounded to the third decimal
place. Each shareholder
account will be identical in all respects to the accounts
currently maintained
for each Fund shareholder.
8
<PAGE>
Accordingly, every shareholder of each of the Funds
will own Class T Shares
immediately after the Reorganization whose value will be
equal to the value of
the shareholder's Fund shares immediately prior to the
Reorganization. Thus, the
Reorganization will not result in a dilution of any
shareholder account value.
Any transfer taxes payable upon issuance of the Class T
Shares in a name other
than the registered holder of the shares on the books of the
corresponding Fund
as of that time shall be paid by the person to whom such
shares are to be issued
as a condition of such transfer. Any reporting
responsibility of a Fund will
continue to be the responsibility of that Fund up to and
including the Closing
Date and such later date on which the Fund is liquidated.
The consummation of the Reorganization is subject to a
number of conditions set
forth in the Plan, some of which may be waived by the Boards
of Trustees, or an
authorized officer of the Funds or of IDEX II Series Fund,
respectively. One
condition of the Plan that may not be waived is that the
shareholders of each of
the Funds must approve the Reorganization. The Plan may be
terminated and the
Reorganization abandoned at any time, before or
after approval by the
shareholders of the Funds, prior to the Closing Date. In
addition, the Plan may
be amended in any manner if mutually agreed upon by the
Funds and IDEX II Series
Fund, except that no amendment may be made to the Plan
subsequent to the Meeting
of shareholders of the Funds that would have a material
adverse effect on the
interest of the Funds' shareholders unless the Plan, as
modified, is approved by
the requisite vote of the shareholders of the Funds.
After the closing of the
Reorganization, the name of IDEX II Series fund will be
changed to IDEX Series
Fund.
REASONS FOR THE REORGANIZATION
The Reorganization is part of an effort by the IDEX Group of
Funds to reduce the
number of separately organized investment companies in
the IDEX Group, and to
combine the prospectuses, statements of additional
information ("SAIs") and
shareholder reports of the investment companies
comprising the IDEX Group of
Funds that are currently separately organized. The
proposed transactions are
part of a restructuring and "streamlining" of operations
within the IDEX Group.
The Reorganization will be a tax-free Reorganization,
therefore, no gain or loss
will result to the Funds, their shareholders, or the
IDEX II Series Fund.
Pre-liquidating distributions will be made to shareholders
of the Funds prior to
the closing of the Reorganization. Rather than continue to
provide services to
three separate funds or portfolios with the same investment
objective within the
same family of funds, and recognizing the potential
benefits to the respective
shareholders of each of those Funds in consolidating the
provision of those
services, IMI and its affiliates proposed that IDEX
Fund and IDEX Fund 3 be
reorganized into the Portfolio.
By not operating the Funds as separate legal entities,
economies of scale are
anticipated that will result from spreading certain
expenses among more assets
under management, and more than one series of shares. It is
anticipated that the
expenses that may be reduced with respect to the Funds over
time will include,
among other things, investment advisory, recordkeeping,
legal, auditing,
accounting, tax returns preparation and filing, costs of
shareholders' meetings
and registration or qualification of shares of the Funds
pursuant to federal and
state law.
In addition, the Funds have historically prepared, filed
with the SEC and (where
required) state securities commissions, printed, and
periodically updated
separate prospectuses, SAIs and shareholder reports. It
is anticipated that
after the Reorganization, these documents will be combined
with the prospectus,
SAI and shareholder reports, respectively, of the IDEX II
Series Fund. Using
combined prospectuses, SAIs and shareholder reports may
benefit shareholders by
reducing the printing costs and professional fees
associated with the
preparation of those documents. Additionally, combined
prospectuses, SAIs and
shareholder reports ensure that shareholders and investors
who have demonstrated
an interest in a particular family of funds such as
IDEX are aware of other
funds that are managed and distributed by the same or
affiliated entities. The
use of combined prospectuses, SAIs and shareholder
reports also simplifies
compliance with regulatory requirements concerning the
delivery of prospectuses
and shareholder reports. However, when a combined
prospectus is used, it is
possible that a fund or portfolio could become liable for a
misstatement in the
prospectus regarding another fund or portfolio.
Each Fund's Board of Trustees, including a majority of the
Independent Trustees,
has determined that the interests of the Fund will not be
diluted as a result of
the Reorganization, and that the Reorganization is in the
best interests of the
Fund.
9
<PAGE>
The Trustees based their decision to recommend the proposed
transactions on a
number of factors, including the following:
(1) the cost savings to each Fund (and indirectly, its
shareholders) that could
be achieved by combining IDEX Fund, IDEX Fund 3 and IDEX II
Growth Portfolio;
(2) the compatibility of the investment objectives, policies
and restrictions of
each of the Funds and the Portfolio;
(3) the future prospects for continued growth (and resulting
economies of scale)
of IDEX Fund, IDEX Fund 3 and IDEX II Growth Portfolio both
under circumstances
where they are not reorganized, and if the Reorganization is
effected;
(4) the effect of the Reorganization on the expense ratios
of IDEX Fund, IDEX
Fund 3 and IDEX II Growth Portfolio over time based on a
comparison of the
expense ratios of IDEX Fund and IDEX Fund 3 with those of
Class T Shares of IDEX
II Growth Portfolio on a "pro forma" basis; and an
analysis of anticipated
reductions in advisory fees and operating expenses based on
economies of scale;
(5) the costs of the Reorganization;
(6) the tax-free nature of the Reorganization; and
(7) the actual and potential benefits to the affiliates
of the Funds and the
IDEX II Series Fund, including IMI and Janus Capital, the
respective investment
adviser and sub-adviser to the Funds and the Portfolio.
The Trustees also took into account the likelihood that
IDEX Fund, IDEX Fund 3
and IDEX II Growth Portfolio will potentially benefit from
the Reorganization
because the expected increase in size of the combined IDEX
II Growth Portfolio,
both immediately following the Reorganization and on a
going forward basis,
could enhance its ability to invest more effectively,
to achieve certain
economies of scale and, in turn, potentially to
increase its operating
efficiencies.
INVESTMENT OBJECTIVES AND POLICIES
The investment objectives, policies and restrictions of
the Portfolio are
identical to those of IDEX Fund and IDEX Fund 3.
TAX CONSIDERATIONS
Each Fund and IDEX II Series Fund have received an opinion
of Sutherland, Asbill
& Brennan, counsel to the Funds and IDEX II Series Fund, to
the effect that the
proposed Reorganization will constitute a tax-free
reorganization within the
meaning of Section 368 (a)(1)(C) of the Internal
Revenue Code of 1986, as
amended (the "Code"). Accordingly, no gain or loss
generally will be recognized
by a Fund, the Portfolio or their respective shareholders in
connection with the
Reorganization.
The opinion also concludes, among other things, that (1)
the basis for federal
income tax purposes of the Class T Shares to be received by
each current Fund
shareholder will be the same as that of the shareholder's
current shares, and
(2) each current Fund shareholder's holding period for the
Class T Shares will
include the shareholder's holding period for those
shares, provided the Fund
shares were held as capital assets by that shareholder
on the date of the
Reorganization.
On or immediately prior to the Closing Date, each Fund
will declare and pay to
its shareholders of record one or more dividends and/or
other distributions so
that each will have distributed substantially all of its
investment company
taxable income (as defined in Section 852(b)(2) of the
Code) and net capital
gain (as defined in Sections 852(b)(3) and 1222(11) of
the Code), computed
without regard to any deduction for dividends paid,
for all taxable years
through its liquidation.
EXPENSES OF THE REORGANIZATION
All expenses relating to the proposed Reorganization,
including professional
fees and the costs of the Meeting, such as the preparation
and mailing of the
notice, prospectus/proxy statement and proxy, and the
solicitation of proxies
which may include
10
<PAGE>
reimbursement to broker-dealers and others who forward
proxy materials to their
clients, will be borne by the Funds and, if the
Reorganization is consummated,
will be assumed by the Portfolio. Such expenses will be
charged against the
income of the Funds and, if the Reorganization is
consummated, of the Portfolio,
for the current year. Management of the Funds anticipates
that the expenses of
the proposed Reorganization will be offset over time by
future savings resulting
therefrom.
APPRAISAL RIGHTS
Each Fund's Declaration of Trust and applicable law do
not grant appraisal
rights to shareholders of the Funds in the event of a
structural change such as
the Reorganization. Although appraisal rights are not
available, shareholders
retain their right to redeem their shares of the Funds or
the Portfolio, as the
case may be, at net asset value (less any applicable
contingent deferred sales
charges) at any time before or after the Reorganization.
The right to redeem
shares at net asset value is not affected by the proposed
Reorganization.
PURCHASES AND EXCHANGES
Shares of IDEX Fund, IDEX II Growth Portfolio and IDEX
Fund 3 are available at
the public offering price through ISI directly or through
broker-dealers who
have sales agreements with ISI. The minimum initial
investment in each IDEX
Fund/Portfolio ordinarily is $500, and each
additional investment must
ordinarily be at least $50.
Shares of IDEX Fund and IDEX Fund 3 are sold subject to a
maximum sales charge
of 8.50% of the public offering price that is applicable
to a purchase of less
than $10,000. Shares of IDEX Fund and IDEX Fund 3 are not
currently available
for sale to new investors.
Class A Shares of each of the IDEX II Growth, Global,
Aggressive Growth,
Equity-Income, Capital Appreciation, Balanced, Tactical
Asset Allocation and
C.A.S.E. Portfolios are currently sold subject to a
maximum sales charge of
5.50% of the public offering price that is applicable to a
purchase of less than
$50,000. For IDEX II Flexible Income, Tax-Exempt and
Income Plus Portfolios,
Class A Shares are currently sold subject to a maximum
sales charge of 4.75% of
the public offering price that is applicable to a purchase
of less than $50,000.
Class B Shares of the IDEX II Portfolios are currently
offered at net asset
value, and are subject to a contingent deferred sales
charge upon redemption at
a declining rate (maximum 5% of the lesser original purchase
price or redemption
proceeds) if redeemed within 6 years of purchase. Class C
Shares of the IDEX II
Portfolios are offered at net asset value without a
sales charge, but are
subject to higher annual service and distribution fees
as described in the
current Prospectus for IDEX II Series Fund that
accompanies this
Prospectus/Proxy Statement. The current prospectus of IDEX
II Series Fund also
gives a detailed description of the terms under which
shares of the portfolios
of IDEX II Series Fund are sold.
Class T Shares of IDEX II Growth Portfolio will be sold
subject to a maximum
sales charge of 8.50% of the public offering price that
is applicable to a
purchase of less than $10,000. (A purchase of $10,000 but
less than $25,000 will
be subject to a maximum sales charge of 7.75%; of $25,000
but less than $50,000,
6.25% ; of $50,000 but less than $75,000, 5.75%; $75,000 but
less than $100,000,
5.00%; $100,000 but less than $250,000, 4.25%; $250,000 but
less than $500,000,
3.00%; $500,000 but less than $1,000,000, 1.25%; and
$1,000,000 or more, 0.00%).
CLASS T SHARES WILL BE AVAILABLE FOR SALE ONLY TO EXISTING
CLASS T SHAREHOLDERS
(THE FORMER SHAREHOLDERS OF THE FUNDS). CLASS T SHARES ARE
NOT SUBJECT TO ANNUAL
SERVICE AND DISTRIBUTION FEES.
Class A, B and C shares of an IDEX II Portfolio may be
exchanged for shares of
any other IDEX II Portfolio of the same class or certain
money market funds, as
described in the current Prospectus for IDEX II Series
Fund. The minimum amount
of shares exchanged must have a value of at least $500.
There is currently no
service charge for an exchange. Class T Shares may be
exchanged only for Class A
shares of the IDEX II Portfolios other than the Growth
Portfolio. There will be
no sales charges imposed on such exchanges; however Class
A shares of all IDEX
II Portfolios are subject to 12b-1 distribution and service
fees. Shareholders
may not exchange other classes of shares of the IDEX II
Portfolios for Class T
Shares.
11
<PAGE>
REDEMPTION PROCEDURES
Shares of IDEX Fund and IDEX Fund 3, and shares of each IDEX
II Portfolio, may
be redeemed upon request in proper form. As described in the
current Prospectus,
shares of each IDEX II Portfolio are generally redeemed
at net asset value;
however Class B shares and certain Class A share sales of
each IDEX II Portfolio
are charged a contingent deferred sales charge upon
certain redemptions.
Redemption proceeds are ordinarily paid within three days
of the receipt of a
redemption request in proper form.
DIVIDENDS AND DISTRIBUTIONS
IDEX II Series Fund intends to declare and pay semi-annual
dividends, if any,
from the net investment income of the Portfolio.
Distributions of net capital
gains, if any, realized by the Portfolio during each fiscal
year are distributed
annually. It is also each Fund's policy to declare and pay
dividends, if any,
semi-annually and net capital gain distributions, if
any, annually. On or
immediately prior to the Closing Date, each Fund will
declare and pay to its
shareholders of record one or more dividends and/or other
distributions so that
each will have distributed substantially all (and in any
event not less than
ninety-eight percent) of its investment company taxable
income (as defined in
Section 852(b)(2) of the Code), computed without regard
to any deduction for
dividends paid, and net capital gain (as defined in
Section 1222(11) of the
Code), if any, for all taxable years through each Fund's
liquidation.
COMPARISON OF INVESTMENT OBJECTIVES AND POLICIES
The investment objective of the Portfolio is growth of
capital. The Portfolio
invests primarily in common stocks listed on a national
securities exchange or
on NASDAQ, which the Portfolio's sub-adviser believes have
a good potential for
capital growth. The current prospectus of IDEX II Series
Fund gives a detailed
description of securities in which the Portfolio may invest.
The investment objective of each of the Funds is also
growth of capital. Each
Fund also invests primarily in common stocks listed on a
national securities
exchange or on NASDAQ, which the sub-adviser believes have
a good potential for
capital growth. The current prospectuses of IDEX Fund
and IDEX Fund 3 give a
detailed description of securities in which each of the
respective Funds may
invest.
The investment objective and policies of IDEX Fund, the
Portfolio and IDEX Fund
3 are non-fundamental and, as such, may be changed by the
respective Boards of
Trustees without shareholder approval, although the
Trustees have no present
intention to do so and would require that at least thirty
days' notice be given
to shareholders prior to any change of investment objective.
The investment restrictions applicable to IDEX Fund, the
Portfolio and IDEX Fund
3 are also identical . The current Statements of Additional
Information for each
of the Funds and the Portfolio give a detailed description
of these investment
restrictions.
DESCRIPTION OF SECURITIES TO BE ISSUED
The shares of each IDEX II Portfolio represent shares of
beneficial interest in
a separate portfolio of IDEX II Series Fund, which is an
open-end management
investment company. IDEX II Series Fund's capital
consists of an unlimited
number of shares currently divided into three classes of
each IDEX II Portfolio.
Class T Shares of IDEX II Growth Portfolio will be sold
subject to a maximum
initial 8.50% sales charge, but no ongoing annual 12b-1
distribution or service
fees. Class T Shares will not be offered or sold to new
investors; only existing
shareholders of a Fund as of the date of the proposed
Reorganization will be
permitted to purchase Class T Shares and to receive any
dividends or capital
gain distributions in additional Class T Shares following
the Reorganization.
Each class of shares of an IDEX II Portfolio represents an
equal proportionate
interest in that Portfolio with each other share, and each
share is entitled to
equal voting, dividend liquidation and redemption rights.
Shares of each IDEX II
Portfolio entitle their holders to one vote per full share
and fractional votes
for fractional shares held. Separate votes are taken by
each IDEX II Portfolio
on matters
12
<PAGE>
affecting that Portfolio. For example, a change in a
fundamental investment
restriction for an IDEX II Portfolio would be voted upon
only by shareholders of
that Portfolio. Additionally, approval of a Management and
Investment Advisory
Agreement and an Investment Counsel Agreement are matters
to be determined only
by the affected Portfolio. Therefore, if shareholders of
one IDEX II Portfolio
approve an advisory contract, it is effective as to that
Portfolio, whether or
not the shareholders of any other IDEX II Portfolios also
approve the contract.
The shares of each IDEX II Portfolio have noncumulative
voting rights, do not
have preemptive or subscription rights, and are
transferable.
As a Massachusetts business trust, IDEX II Series Fund is
not required to hold
annual meetings of its shareholders and does not intend to
do so unless required
by the 1940 Act or its Declaration of Trust. A meeting
will be called for the
purpose of voting upon the question of removal of any
trustee upon the written
request of holders of at least 10% of the outstanding
shares of IDEX II Series
Fund.
Shareholders of a Massachusetts business trust may, under
certain circumstances,
be held personally liable for its obligations. However,
IDEX II Series Fund's
Declaration of Trust expressly disclaims and provides
indemnification against
such liability. Accordingly, the risk of a shareholder
incurring financial loss
on account of shareholder liability is limited to
circumstances in which IDEX II
Series Fund itself would be unable to meet its obligations,
a possibility that
the investment advisers to IDEX II Series Fund believe is
remote.
For additional information, please refer to the current
prospectus for IDEX II
Series Fund that accompanies this Prospectus/Proxy
Statement.
CAPITALIZATION
The following tables show the capitalization of IDEX II
Growth Portfolio, IDEX
Fund and IDEX Fund 3 as of March 31, 1996 and September 30,
1995 on a pro forma
basis as of each date (unaudited), giving effect to the
Reorganization:
March 31, 1996 (unaudited)
Amounts in thousands (except per share
amounts)
IDEX II
Pro Forma
Growth IDEX Fund IDEX Fund
3 Combined
Net Assets $527,650 $356,922 $172,451
$1,056,697
Net Asset Value
("NAV") per Share:
Class A $21.82
$21.82
Class B 21.53
21.52
Class C 21.57
21.56
Class T N/A
21.97
IDEX Fund $22.33
N/A
IDEX Fund 3 $17.82
N/A
Shares Outstanding:
Class A 23,759
23,759
Class B 65
65
Class C 355
355
Class T N/A
24,095
IDEX Fund 15,984
N/A
IDEX Fund 3 9,679
N/A
13
<PAGE>
September 30, 1995 (unaudited)
Amounts in thousands
IDEX II
Pro Forma
Growth IDEX Fund IDEX
Fund 3 Combined
Net Assets $491,528 $328,215
$166,529 $985,946
Net Asset Value
("NAV") per Share:
Class A $22.84
$22.84
Class B N/A
N/A
Class C 22.64
22.63
Class T N/A
22.96
IDEX Fund $23.61
N/A
IDEX Fund 3
$19.77 N/A
Shares Outstanding:
Class A 21,271
21,271
Class B N/A
N/A
Class C 247
247
Class T N/A
21,548
IDEX Fund 13,901
N/A
IDEX Fund 3
8,423 N/A
RATIOS
The following tables show the ratios of expenses to
average net assets and the
ratios of net investment income to average net assets of
IDEX II Growth, IDEX
Fund and IDEX Fund 3 for the periods ended March 31, 1996
and September 30, 1995
on a pro forma basis as of each date (unaudited)
giving effect to the
Reorganization:
Six months ended March 31, 1996
(unaudited)
Ratio of expenses to Ratio
of net investment
average net assets income
(loss) to average net
assets
Absent Reorganization:
IDEX II Growth:
Class A 1.90%
(0.33)%
Class B 2.55%
(0.98)%
Class C 2.45%
(0.88)%
Class T N/A
N/A
IDEX Fund 1.33%
0.12%
IDEX Fund 3 1.31%
0.09%
Pro Forma Combined
Assuming Reorganization:
IDEX II Growth:
Class A 1.69%
(0.26)%
Class B 2.34%
(0.91)%
Class C 2.24%
(0.81)%
Class T 1.34%
0.09%
IDEX Fund N/A
N/A
IDEX Fund 3 N/A
N/A
14
<PAGE>
Year ended September 30, 1995
(unaudited)
Ratio of net investment
Ratio of expenses to income
(loss) to average net
average net assets
assets
Absent Reorganization:
IDEX II Growth:
Class A 1.86%
(0.26)%
Class B N/A
N/A
Class C 2.41%
(0.81)%
Class T N/A
N/A
IDEX Fund 1.43%
0.22%
IDEX Fund 3 1.38%
0.16%
Pro Forma Combined
Assuming Reorganization:
IDEX II Growth:
Class A 1.78%
(0.16)%
Class B N/A
N/A
Class C 2.33%
(0.71)%
Class T 1.43%
0.19%
IDEX Fund N/A
N/A
IDEX Fund 3 N/A
N/A
MISCELLANEOUS
ADDITIONAL AVAILABLE INFORMATION
Additional information about each Portfolio of IDEX II
Series Fund is included
in the current Prospectus dated February 1, 1996 of IDEX II
Series Fund, a copy
of which is included with this Prospectus/Proxy Statement
and incorporated by
reference herein. Further information about IDEX II
Series Fund and the
Reorganization is included in the Statement of Additional
Information relating
to this Prospectus/Proxy Statement dated July 25,
1996, and the current
Statement of Additional Information dated February 1,
1996 of IDEX II Series
Fund, each of which has been filed with the SEC and is
incorporated by reference
herein. A copy of each of these Statements of Additional
Information may be
obtained without charge by contacting IDEX II Series Fund,
201 Highland Avenue,
Largo, Florida 33770-2597 or by calling 1-800-851-9777.
IDEX II Series Fund is subject to the informational
requirements of the
Securities Exchange Act of 1934 and the 1940 Act, and in
accordance therewith
files reports, proxy materials and other information with
the SEC. IDEX Fund and
IDEX Fund 3 are also registered under the 1940 Act and
required to file reports
under the 1940 Act. Such reports, proxy materials and other
information can be
inspected and copied at the Public Reference Room
maintained by the SEC at 450
Fifth Street, N.W., Washington, D.C. 20549. Copies of such
material can also be
obtained from the Public Reference Branch, Office of
Consumer Affairs and
Information Services, Securities and Exchange Commission,
Washington, D.C. 20549
at prescribed rates.
LEGAL MATTERS
Certain legal matters in connection with the issuance of
the Class T Shares of
IDEX II Growth Portfolio will be passed upon by Becky A.
Ferrell, Esquire, Vice
President, Secretary and Counsel for the IDEX II Series Fund
and the Funds.
15
<PAGE>
EXPERTS
The audited financial statements of IDEX II Growth
Portfolio incorporated by
reference in the Statement of Additional Information have
been examined by Price
Waterhouse LLP, independent accountants, whose report
thereon is included in
that Portfolio's 1995 annual report to shareholders. Such
financial statements
are incorporated herein by reference in reliance upon such
report given on the
authority of such firm as experts in accounting and
auditing.
THE BOARD OF TRUSTEES OF EACH FUND RECOMMENDS THAT
YOU VOTE FOR THE
REORGANIZATION.
SHAREHOLDER PROPOSALS
As a general matter, the Funds do not hold annual
meetings of shareholders.
Shareholders wishing to submit proposals for inclusion in a
proxy statement for
a subsequent shareholders' meeting should send their
written proposals to the
Secretary of the Fund, 201 Highland Avenue, Largo, Florida
33770-2597.
OTHER BUSINESS
Management knows of no business to be presented to the
Meeting other than the
matters set forth in this Prospectus/Proxy Statement,
but should any other
matter requiring a vote of shareholders arise, the
proxies will vote thereon
according to their best judgment in the interests of the
Funds.
By Order of
the Board of Trustees,
/S/ BECKY A.
FERRELL
Becky A.
Ferrell, Vice President,
Counsel and
Secretary
IDEX Fund
IDEX Fund 3
Largo,
Florida
16
<PAGE>
AGREEMENT AND PLAN OF REORGANIZATION AND
LIQUIDATION
THIS AGREEMENT AND PLAN OF REORGANIZATION AND LIQUIDATION (
the "Agreement") is
made and entered into as of the 31st day of May, 1996,
by and among IDEX II
Series Fund, a Massachusetts business trust, on behalf
of its IDEX II Growth
Portfolio (the "Portfolio"), IDEX Fund, a Massachusetts
business trust ("IDEX
Fund") and IDEX Fund 3, a Massachusetts business trust
("IDEX Fund 3"). IDEX
Fund and IDEX Fund 3 are herein referred to as each, a
"Fund" and collectively,
the "Funds." The Portfolio and the Funds are herein
collectively referred to as
the "Parties."
This Agreement is intended to be, and is adopted as, a plan
of reorganization as
described in Section 368 (a)(1)(C) of the Internal
Revenue Code of 1986, as
amended (the "Code"). The reorganization will comprise
the transfer of all of
the assets of the Funds, in exchange solely for shares of
beneficial interest of
a class, no par value, in the Portfolio, to be established
for this purpose and
designated Class T shares (the "Class T Shares"), and the
Portfolio's assumption
of the Funds' liabilities, and the constructive
distribution, after the Closing
Date (as defined in paragraph 3.1), of the Class T Shares to
the shareholders of
the Funds (the "Shareholders") in liquidation of the Funds
as provided herein,
all upon the terms and conditions hereinafter set forth in
this Agreement. The
foregoing transaction is referred to herein as the
Reorganization (the
"Reorganization"). All agreements, representations, and
actions described herein
made or to be taken by the Portfolio are made and shall
be taken by IDEX II
Series Fund on behalf of the Portfolio.
In consideration of the premises and of the mutual
promises and agreements
herein, the Parties hereto covenant and agree as follows:
1. THE REORGANIZATION
1.1. Subject to the terms and conditions
herein set forth and on
the basis of the representations and
warranties contained
herein, each Fund agrees to sell, assign,
convey, transfer and
deliver all of its respective assets as
set forth in paragraph
1.2 (the "Assets") to the custodian
and such foreign
sub-custodians designated by the
Portfolio prior to the
Closing Date, on behalf of the Portfolio,
and the Portfolio
1
<PAGE>
agrees in exchange therefor (a) to issue
and deliver to each
Fund the number of full and fractional
Class T Shares of the
Portfolio, determined by dividing the
aggregate value of the
net assets of each Fund (computed in the
manner and as of the
time and date set forth in paragraph
2.1) by the net asset
value of a Class T Share (computed in the
manner and as of the
time and date set forth in paragraph
2.2), and (b) to assume
all of the liabilities of each of the
Funds as set forth in
paragraph 1.3. The consummation of such
transactions (the
"Closing") shall take place on the Closing
Date.
1.2. The assets of the Funds to be acquired by
the Portfolio shall
include, without limitation, all cash
(whether in U.S. or
foreign currencies), cash equivalents,
securities, receivables
(including interest and dividends
receivable), claims and
rights of action, rights to register
shares under applicable
securities laws, books and records, and
other property owned
by the Funds (including any deferred or
prepaid expenses shown
as assets on the books of the Funds) on
the Closing Date (the
"Assets").
1.2.1. All securities of U.S. issuers, together
with other securities
which the Portfolio designates as
securities to be held by a
U.S. custodian, and other non-cash
assets of the Funds shall
be delivered no later than the Closing
Date by the Funds to
the U.S. custodian to be held in
conformity with applicable
custody provisions under the Investment
Company Act of 1940
(the "1940 Act") until the Closing for
the account of the
Portfolio. All foreign securities shall
be delivered no later
than the Closing Date to the foreign sub-
custodians designated
by the Portfolio. Securities so
delivered shall be duly
endorsed in proper form for transfer in
such condition as to
constitute a good delivery thereof, in
accordance with the
custom of brokers, and shall be
accompanied by all necessary
stock transfer stamps (or other
documentation evidencing
payment of necessary taxes), if any,
or a check for the
appropriate purchase price of such stamps
(or payment of such
necessary tax). Unless otherwise directed
by the Portfolio in
writing on or before the Closing Date,
cash held by each Fund
shall be delivered on the Closing Date
and shall be in the
form of currency or wire transfer in
Federal funds, payable to
the order of the
2
<PAGE>
account of the Portfolio at the U.S.
custodian. Unless
otherwise directed by the Portfolio in
writing on or before
the Closing Date, cash held in foreign
currency, if any, shall
be converted to U.S. dollars prior to
Closing. A confirmation
for the shares registered in the name
of each Fund shall be
delivered to each Fund on the Closing
Date.
1.3. Except as otherwise provided herein,
the Portfolio shall
assume from the Funds all debts,
liabilities, obligations and
duties of the Funds of whatever kind
or nature, whether
absolute, accrued, contingent or
otherwise, whether or not
arising in the ordinary course of
business, whether or not
determinable as of the Closing Date
and whether or not
specifically referred to in this
Agreement.
1.4. On or immediately prior to the Closing
Date, each Fund will
declare and pay to its shareholders of
record one or more
dividends and/or other distributions so
that each will have
distributed substantially all of its
investment company
taxable income (as defined in Section
852(b)(2) of the Code)
and net capital gain (as defined in
Sections 852(b)(3) and
1222(11) of the Code), computed in each
case without regard to
any deduction for dividends paid, for
all taxable years
through its liquidation.
1.5. On a date on or as soon after the
Closing Date as is
conveniently practicable (the "Liquidation
Date"), each of the
Funds shall liquidate and distribute
the Class T Shares
received by such Fund pursuant to
paragraph 1.1 to
Shareholders of record, determined as of
the close of business
on the Closing Date, pro rata in
proportion to the value of
shares of such Fund (hereinafter, "Fund
Shares") owned by such
Shareholders as of the close of business
on the Closing Date,
in complete liquidation and redemption
of their Fund Shares.
Such liquidation and distribution shall be
accomplished by the
transfer of the Class T Shares then
credited to each Fund's
account on the Portfolio's share records
to open accounts on
those records in the names of such
Shareholders (each account
representing the proportionate number
of Class T Shares due
the Shareholder in whose name the
account is opened),
whereupon the Fund Shares held by such
Shareholders shall be
canceled. Fractional Class T Shares
shall be rounded to the
third decimal place. Following the
distribution of the Class T
Shares, each Fund shall take all actions
necessary or
3
<PAGE>
appropriate in connection with the
dissolution of such Fund
pursuant to applicable law and the
deregistration of such Fund
under the 1940 Act.
1.6. The Portfolio shall not issue
certificates representing the
Class T Shares issued and delivered to
Shareholders, except to
any Shareholder who requests same.
1.7. Any transfer taxes payable upon issuance
of the Class T Shares
in a name other than the registered
holder of the shares on
the books of the Funds as of that time
shall be paid by the
person to whom such Class T Shares are
to be issued as a
condition of such transfer.
1.8. Any financial, regulatory and
tax reporting
responsibility of a Fund is and
shall remain the
responsibility of such Fund up to
and including the
Liquidation Date.
1.9. All books and records of a Fund,
including all books and
records required to be maintained under
the 1940 Act and the
rules and regulations thereunder, shall
become the property of
the Portfolio on or prior to the Closing
Date.
2. VALUATION
2.1. The value of each Fund's assets and
liabilities to be acquired
and assumed, respectively, by the
Portfolio shall be the
aggregate value of such Fund's net assets
computed as of the
close of regular trading on the New
York Stock Exchange
("NYSE") (usually 4:00 p.m., eastern time)
on the Closing Date
(such time and date being hereinafter
called the "Valuation
Time"), each Fund using the valuation
procedures set forth in
such Fund's then-current prospectus
and statement of
additional information.
2.2. The net asset value of a Class T Share of
the Portfolio shall
be the net asset value per such share as
initially determined
by the Board of Trustees of IDEX II
Series Fund or as
subsequently computed as of the
Valuation Time, using the
valuation procedures set forth in a then-
current prospectus
and statement of additional information
for IDEX II Series
Fund.
4
<PAGE>
2.3. The number of Class T Shares of the
Portfolio to be issued
(including fractional shares, if any)
in exchange for each
Fund's net assets shall be calculated
by dividing the net
assets of such Fund determined in
accordance with paragraph
2.1 by the net asset value per share of a
Class T share of the
Portfolio determined in accordance with
paragraph 2.2.
3. CLOSING AND CLOSING DATE
3.1. The closing shall occur on September 20,
1996, or such other
date as the Parties may agree upon (the
"Closing Date"). All
acts taking place at the Closing shall be
deemed to take place
simultaneously as of the close of
business on the Closing
Date, unless otherwise provided. The
Closing shall be at the
offices of the Parties or at such other
place as the Parties
may agree.
3.2. Each Fund shall deliver to the
Portfolio at the Closing a
certificate of an authorized officer of
Investors Fiduciary
Trust Company ("IFTC"), as custodian
for the Fund, stating
that (a) the Fund's Assets have been
delivered in proper form
to IFTC and those foreign sub-custodians
designated by the
Portfolio prior to the Closing Date,
on behalf of the
Portfolio on the Closing Date, and (b)
all necessary taxes,
including all applicable federal and
state stock transfer
stamps, if any, have been paid, or
provision for payment has
been made, in conjunction with the
delivery of such Assets.
3.3. In the event that, as of the Valuation
Time (a) the NYSE or
other primary trading market for
securities of the Portfolio
or either of the Funds shall be closed to
trading or trading
thereon shall be restricted, or (b)
trading or the reporting
of trading on said Exchange or elsewhere
shall be disrupted so
that accurate appraisal of the value of
the net assets of the
Portfolio or either of the Funds
impracticable, the Closing
Date shall be postponed until such other
date as the Parties
may agree upon.
3.4. Each Fund shall deliver to the
Portfolio on or prior to the
Liquidation Date, a list of names
and addresses of the
Shareholders of such Fund and the number
of its outstanding
shares owned by each such Shareholder
(as shown on the books
of the
5
<PAGE>
Fund's transfer agent), all as of the
close of business on the
Closing Date, certified by the
Secretary or Assistant
Secretary of each Fund. The Portfolio
shall issue and deliver
to said Secretary or Assistant
Secretary a confirmation
evidencing the Class T Shares of the
Portfolio to be credited
to the Shareholders of each Fund on
the Liquidation Date
pursuant to paragraph 1.5, or provide
evidence satisfactory to
the Funds that such Class T Shares have
been credited to each
Fund's account on the books of the
Portfolio. At the Closing,
each Party shall deliver to the other
such bills of sale,
checks, assignments, share certificates,
receipts, and other
documents as such other Party or its
counsel may reasonably
request to effect the transactions
contemplated by this
Agreement.
4. REPRESENTATIONS AND WARRANTIES
4.1. Each Fund represents and warrants (which
representations and
warranties will be true and correct on
the Closing Date as
though made on and as of the Closing
Date) as to such Fund as
follows:
4.1.1. It is an unincorporated
voluntary association duly
organized, validly existing, and
in good standing as
a business trust under the laws
of the Commonwealth
of Massachusetts, and a copy
of its respective
Restatement of Declaration of
Trust ("Declaration of
Trust") is on file with the
Secretary of the
Commonwealth of Massachusetts.
4.1.2. It is an open-end management
investment company duly
registered under the 1940 Act,
and the registration
statement on Form N-1A for such
Fund is in full force
and effect and conforms in all
material respects to
the requirements of the
Securities Act of 1933, as
amended (the "1933 Act") and the
1940 Act.
4.1.3. All of its shares have been
offered and sold in
compliance in all material
respects with applicable
requirements of the federal
and state securities
laws. Its shares are registered
in all jurisdictions
in which they are required to be
registered and all
such registrations, together
with any periodic
reports or supplemental filings
required to be made
in any such jurisdiction are
6
<PAGE>
complete and current, all fees
required to be paid
have been paid and the Fund is
not subject to any
stop order and is fully qualified
to continue to sell
its shares in each such
jurisdiction.
4.1.4. The Fund is not, and the
execution, delivery and
performance of this Agreement
will not result in its
being, in violation of any
provision of its
Declaration of Trust or By-Laws
or of any material
agreement, indenture,
instrument, contract, lease or
other undertaking to which it is
a party or by which
it is bound; provided, however,
that any investment
policy or restriction of such
Fund that may prevent
it from acquiring the Class T
Shares of the Portfolio
necessary to consummate the
transactions contemplated
by this Agreement shall not be
deemed to give rise to
a violation for purposes of
this paragraph 4.1.4.
4.1.5. All material contracts or other
commitments of or
applicable to the Fund (other
than this Agreement)
shall be terminated on or prior
to the Closing Date,
except that each of its transfer
agency agreements
and custodian contracts
shall be terminated
immediately after the Closing;
all such terminations
shall be made without the
Portfolio or the Fund
incurring any liability or
penalty with respect
thereto.
4.1.6. No material litigation or
administrative proceeding
or investigation of or
before any court or
governmental body is presently
pending or threatened
against the Fund or any of its
properties or assets,
except as previously disclosed
in writing to the
Portfolio. The Fund knows of no
facts that might form
the basis for the institution
of such proceedings,
and the Fund is not a party to
or subject to the
provisions of any order, decree
or judgment of any
court or governmental body
that materially and
adversely affects its
business, its financial
condition, or its ability
to consummate the
transactions herein contemplated.
4.1.7. The Statements of Assets and
Liabilities, the
Statements of Operations, the
Statements of Changes
in Net Assets, Financial
Highlights, and the
Schedules
7
<PAGE>
of Investments of the Fund at or
for the period ended
October 31, 1995, as applicable,
have been audited by
Price Waterhouse LLP,
independent accountants, in
accordance with generally
accepted auditing
standards. Such financial
statements are presented in
accordance with generally
accepted accounting
principles consistently applied
and fairly present,
in all material respects, the
financial condition of
the Fund as of such date, and
there are no material
known liabilities of the Fund as
of October 31, 1995
(contingent or otherwise) not
disclosed therein.
4.1.8. Since October 31, 1995, there
has not been any
material adverse change in
the Fund's financial
condition, assets, liabilities or
business other than
changes occurring in the ordinary
course of business,
or any incurrence by the
Fund of indebtedness
maturing more than one year
from the date such
indebtedness was incurred,
except as otherwise
disclosed to and accepted by the
Portfolio. For the
purposes of this paragraph
4.1.8, a decline in net
asset value per share or an
increase or decrease in
the number of shares outstanding
shall not constitute
a material adverse change.
4.1.9. All federal and other tax returns
and reports of the
Fund required by law to have
been filed have been
filed, and all federal and
other taxes shown as due
on such returns and reports
shall have been paid
insofar as due, or provision
shall have been made for
the payment thereof, and to
the best of the Fund's
knowledge, no such return is
currently under audit
and no assessment has been
asserted with respect to
such returns. Final tax returns
of the Fund shall be
filed within 2 1/2months after
the end of the month
in which the Closing Date occurs,
and the Fund shall
have made provisions for such
filings.
4.1.10. The Fund's liabilities to be
assumed by the Portfolio
were incurred by the Fund in the
ordinary course of
its business.
4.1.11. For each past taxable year
since it commenced
operations and for the current
taxable year, the Fund
has met, and shall continue to
meet, the requirements
8
<PAGE>
of Subchapter M of the Code, for
qualification and
treatment as a regulated
investment company under the
Code.
4.1.12. The Fund has maintained all
records required under
Section 31 of the 1940 Act and
rules thereunder.
4.1.13. The Fund is not under the
jurisdiction of a court in
a proceeding under Title 11 of
the United States Code
or similar case within the
meaning of section
368(a)(3)(A) of the Code.
4.1.14. All issued and outstanding
shares of the Fund (1)
are, and at the Closing Date
will be, duly and
validly issued and
outstanding, fully paid and
non-assessable, except to the
extent that under
Massachusetts law shareholders
of an unincorporated
voluntary association organized
as a business trust,
as the Fund is, may, under
certain circumstances, be
held liable for the obligations
of the association,
and (2) at the Closing Date
will be held by the
persons and in the amounts set
forth in the list of
Shareholders delivered to the
Portfolio in accordance
with the provisions of paragraph
3.4. The Fund does
not have outstanding any
options, warrants or other
rights to subscribe for or
purchase any of its
shares, nor is there
outstanding any security
convertible into any of its
shares.
4.1.15. The Fund shall have good and
marketable title to its
Assets and full right, power and
authority to sell,
assign, convey, transfer and
deliver such Assets free
of any liens, mortgages,
pledges, encumbrances,
charges, claims and equities
whatsoever, and upon
delivery and payment for such
Assets, the Portfolio
will acquire good and marketable
title thereto, free
and clear of all liens,
mortgages, pledges,
encumbrances, charges, claims and
equities (except as
to adverse claims under
Article 8 of the Uniform
Commercial Code of which the
Portfolio has notice and
necessary documentation at or
prior to the time of
delivery). The fair market value
of such Assets shall
exceed the amount of the
liabilities the Portfolio
shall assume from the Fund or
to which such Assets
shall be subject.
9
<PAGE>
4.1.16. The execution, delivery and
performance of this
have been duly authorized by the
Board of Trustees of
the Fund and by all other
necessary corporate action,
subject to Shareholder approval,
on the part of the
Fund, and this Agreement
constitutes a valid and
binding obligation of the
Fund enforceable in
accordance with its terms,
subject to Shareholder
approval.
4.1.17. The information to be furnished
by the Fund for use
in registration statements, proxy
materials and other
documents that may be necessary
in connection with
the transactions contemplated
hereby shall be
accurate and complete in all
material respects and
shall comply in all material
respects with federal
securities and other laws and
regulations thereunder
applicable thereto. On the
effective date of the
registration statement to be
filed with the
Securities and Exchange
Commission ("SEC") by the
IDEX II Series Fund on Form N-
14 relating to the
registration of the Class T
Shares issuable pursuant
to the transactions
contemplated by this Agreement,
and any supplement or
amendment thereto (the
"Registration Statement"), and
at the time of the
meeting of the Shareholders, and
on the Closing Date,
the Registration Statement and
the Prospectus/Proxy
Statement to be included
therewith (the
"Prospectus/Proxy Statement")
(i) will comply in all
material respects with the
provisions of the 1933
Act, the Securities Exchange
Act of 1934 (the "1934
Act"), and the 1940 Act,
and the rules and
regulations thereunder, and (ii)
will not contain any
untrue statement of a material
fact or omit to state
a material fact required to
be stated therein or
necessary to make the
statements therein not
misleading; provided,
however, that the
representations and warranties
in this paragraph
4.1.17 shall not apply to
statements in or omissions
from the Prospectus/Proxy
Statement and the
Registration Statement made in
reliance upon and in
conformity with information
furnished by another
Party for use therein.
4.1.18. The Fund shall not engage in
an operating business
after the Reorganization.
4.2. The Portfolio represents and warrants as
follows:
10
<PAGE>
4.2.1. The Portfolio is a segregated
portfolio of assets of
IDEX II Series Fund, an
unincorporated voluntary
association duly organized,
validly existing, and in
good standing as a business
trust under the laws of
the Commonwealth of
Massachusetts. A copy of IDEX II
Series Fund's Declaration of
Trust is on file with
the Secretary of the Commonwealth
of Massachusetts.
4.2.2. IDEX II Series Fund is an
open-end management
investment company duly
registered under the 1940
Act, and the registration
statement on Form N-1A for
IDEX II Series Fund is in full
force and effect and
conforms in all material respects
to the requirements
of the 1933 Act and the 1940 Act.
4.2.3. All of the shares of the
Portfolio have been offered
and sold in compliance in all
material respects with
applicable requirements of the
federal and state
securities laws. Shares of
the Portfolio are
registered in all jurisdictions
in which they are
required to be registered and all
such registrations,
together with any periodic
reports or supplemental
filings required to be made in
any such jurisdiction
are complete and current, all
fees required to be
paid have been paid and IDEX II
Series Fund is not
subject to any stop order and is
fully qualified to
continue to sell shares of the
Portfolio in each such
jurisdiction.
4.2.4. The Portfolio is not, and the
execution, delivery and
performance of this Agreement
will not result in its
being, in violation of any
provisions of the
Declaration of Trust or By-Laws
of IDEX II Series
Fund or of any material
agreement, indenture,
instrument, contract, lease or
other undertaking to
which the IDEX II Series Fund or
the Portfolio is a
party or by which the IDEX II
Series Fund or the
Portfolio is bound.
4.2.5. No material litigation or
administrative proceeding
or investigation of or
before any court or
governmental body is presently
pending or threatened
against the Portfolio or any of
its properties or
assets, except as previously
disclosed in writing to
the Funds. The Portfolio knows of
no facts that might
form the basis for the
institution of such
proceedings, and the Portfolio is
not
11
<PAGE>
a party to or subject to the
provisions of any order,
decree or judgment of any court
or governmental body
that materially and adversely
affects its business,
its financial condition, or its
ability to consummate
the transactions herein
contemplated.
4.2.6. The Statements of Assets
and Liabilities, the
Statements of Operations, the
Statements of Changes
in Net Assets, Financial
Highlights, and the
Schedules of Investments of the
Portfolio at or for
the period ended September 30,
1995, as applicable,
have been audited by Price
Waterhouse LLP,
independent accountants, in
accordance with generally
accepted auditing standards.
Such financial
statements are presented in
accordance with generally
accepted accounting principles
consistently applied
and fairly present, in all
material respects, the
financial condition of the
Portfolio as of such date,
and there are no material known
liabilities of the
Portfolio as of September 30,
1995 (contingent or
otherwise) not disclosed therein.
4.2.7. Since September 30, 1995,
there has not been any
material adverse change in the
Portfolio's financial
condition, assets, liabilities or
business other than
changes occurring in the ordinary
course of business,
or any incurrence by the
Portfolio of indebtedness
maturing more than one year
from the date such
indebtedness was incurred,
except as otherwise
disclosed to and accepted by the
Portfolio. For the
purposes of this paragraph
4.2.7, a decline in net
asset value per share or an
increase or decrease in
the number of shares outstanding
shall not constitute
a material adverse change.
4.2.8. All federal and other tax
returns and reports of the
IDEX II Series Fund on
behalf of the Portfolio
required by law to have been
filed have been filed,
and all federal and other taxes
shown as due on said
returns and reports shall have
been paid insofar as
due, or provision shall have
been made for the
payment thereof, and to the
best of the Portfolio's
knowledge, no such return is
currently under audit
and no assessment has been
asserted with respect to
such returns.
12
<PAGE>
4.2.9. For each past taxable year
since it commenced
operations and for the current
taxable year, IDEX II
Series Fund and the Portfolio
have met, and shall
continue to meet, the
requirements of Subchapter M of
the Code for qualification
and treatment as a
regulated investment company
under the Code.
4.2.10. IDEX II Series Fund has
maintained all records
required under Section 31 of
the 1940 Act and rules
thereunder.
4.2.11. IDEX II Series Fund is not
under the juris-
diction of a court in a
proceeding under Title 11 of
the United States Code or
similar case within the
meaning of section 368(a)(3)(A)
of the Code.
4.2.12. Prior to the Closing Date,
there shall be no issued
and outstanding Class T Shares of
the Portfolio, and
Class T Shares issued in
connection with the
transactions contemplated
hereby will be duly and
validly issued and
outstanding, fully paid, and
nonassessable, except to the
extent that under
Massachusetts law shareholders
of an unincorporated
voluntary association organized
as a business trust,
as IDEX II Series Fund is,
may, under certain
circumstances, be held
personally liable for the
obligations of the
association. Except as
contemplated by this Agreement,
the Portfolio does
not have outstanding any
options, warrants or other
rights to subscribe for or
purchase any of its
shares, nor is there
outstanding any security
convertible into any of its
shares.
4.2.13. The execution, delivery and
performance of this
Agreement have been duly
authorized by the Board of
Trustees of IDEX II Series
Fund and by all other
necessary action on the part of
IDEX II Series Fund
and the Portfolio, and this
Agreement constitutes a
valid and binding obligation
of the Portfolio
enforceable in accordance with
its terms.
4.2.14. The information to be furnished
by the Portfolio for
use in registration statements,
proxy materials and
other documents that may be
necessary in
13
<PAGE>
connection with the transactions
contemplated hereby
shall be accurate and
complete in all material
respects and shall comply in all
material respects
with federal securities and
other laws and
regulations thereunder
applicable thereto. On the
effective date of the
registration statement to be
filed with the SEC by the IDEX II
Series Fund on Form
N-14 relating to the
registration of the Class T
Shares issuable pursuant to
the transactions
contemplated by this Agreement,
and any supplement or
amendment thereto (the
"Registration Statement"), and
at the time of the meeting of the
Shareholders, and
on the Closing Date, the
Registration Statement and
the Prospectus/Proxy Statement
(i) will comply in all
material respects with the
provisions of the 1933
Act, the 1934 Act and the 1940
Act, and the rules and
regulations thereunder, and (ii)
will not contain any
untrue statement of a material
fact or omit to state
a material fact required to
be stated therein or
necessary to make the
statements therein not
misleading; provided,
however, that the
representations and warranties
in this paragraph
4.2.14 shall not apply to
statements in or omissions
from the Prospectus/Proxy
Statement and the
Registration Statement made in
reliance upon and in
conformity with information
furnished by a Fund for
use therein.
4.2.15. The Portfolio has no plan or
intention to issue
additional Class T Shares
following the
Reorganization except for
shares issued in the
ordinary course of its
business as a series of an
open-end investment company;
nor does the Portfolio
have any plan or intention to
redeem or otherwise
reacquire any Class T
Shares issued to the
Shareholders pursuant to the
Reorganization, other
than through redemptions
arising in the ordinary
course of that business.
Following the
Reorganization, it is not
anticipated that Class T
Shares will generally be
available for sale to the
public; however, the
Shareholders will be able to
purchase additional Class T
Shares as long as they
continue to own Class T Shares.
4.2.16. The Portfolio has no plan or
intention to sell or
otherwise dispose of any of the
Assets to be acquired
by the Portfolio in the
Reorganization, except for
dispositions made in the
ordinary course of the
Portfolio's business and
14
<PAGE>
dispositions necessary to
maintain its status as a
regulated investment company
under Subchapter M of
the Code.
4.2.17. The Portfolio has no current
plan or intention
to be dissolved or merged with
another corporation or
business trust or any "fund"
thereof (within the
meaning of section 851(h)(2) of
the Code) following
the Reorganization.
4.2.18. The Portfolio shall use a
significant portion of the
Assets transferred by each Fund
in its business.
4.2.19. The Portfolio has owned
(directly and indirectly) no
shares of either Fund during the
past five years.
4.3. Each of the Funds and the Portfolio
represents and warrants as
follows:
4.3.1. The fair market value of the
Class T Shares, when
received by each Shareholder,
will be equal to the
fair market value of the
respective Fund Shares
constructively surrendered in
exchange therefor.
4.3.2. Its management (a) is unaware of
any plan or inten-
tion of Shareholders to sell,
exchange, redeem or
otherwise dispose of any
portion of the Class T
Shares to be received by the
Shareholders in the
Reorganization, and (b)
does not anticipate
dispositions in contemplation
of or soon after the
Reorganization to exceed the
usual rate and frequency
of redemptions of Fund
Shares as an open-end
investment company.
Consequently, its management
expects that the percentage of
Shareholder interests,
if any, that will be redeemed
as a result of or at
the time of the Reorganization
will be de minimis.
4.3.3. Immediately following
consummation of the
Reorganization, the
Shareholders will own all the
Class T Shares and will own such
shares solely by
reason of their ownership of
the respective Fund
Shares immediately prior to the
Reorganization.
15
<PAGE>
4.3.4. Immediately following
consummation of the
Reorganization, the Portfolio
will hold the Assets
and be subject to the
liabilities of each of the
Funds, plus any liabilities
and expenses of the
Parties incurred in
connection with the
Reorganization.
4.3.5. The fair market value of the
Assets to be transferred
by each Fund to the Portfolio
shall equal or exceed
the Fund's liabilities to be
assumed by the Portfolio
plus any liabilities to which the
transferred Assets
are subject.
4.3.6. There is no intercompany
indebtedness between a Fund
and the Portfolio that was
issued or acquired, or
will be settled, at a discount.
4.3.7. The Portfolio will acquire at
least 90 percent of the
fair market value of the net
assets and at least 70
percent of the fair market value
of the gross assets
held by each Fund
immediately prior to the
Reorganization, treating all
amounts used to redeem
out Shareholders in
contemplation of the
Reorganization, and all other
redemptions and
distributions (other than
distributions and
redemptions occurring in the
ordinary course of the
Fund's business) made by the
Fund immediately
preceding the Reorganization
as assets of the Fund
held immediately prior to the
Reorganization.
5. COVENANTS OF THE PORTFOLIO AND THE FUNDS
5.1. Each Fund covenants to operate its
respective business in the
ordinary course between the date hereof
and the Closing Date,
it being understood that such ordinary
course of business will
include declaring and paying customary
dividends and other
distributions and such changes in
operations as are
contemplated by the normal operations of
the Fund.
5.2. Each Fund covenants (1) to call a meeting
of its Shareholders
to consider and act upon this Agreement,
and (2) to take all
other actions necessary to obtain approval
of the transactions
contemplated hereby, including preparing,
or directing the
16
<PAGE>
preparation of, a proxy statement in
compliance with the 1934
Act and the 1940 Act in connection
with such Fund's
Shareholders meeting.
5.3. Each Fund covenants that the Class T
Shares to be received by
such Fund in connection with the
Reorganization are not being
acquired for the purpose of making any
distribution thereof
other than in accordance with the terms of
this Agreement.
5.4. Each Fund covenants that it shall
assist the Portfolio in
obtaining such information as the
Portfolio reasonably
requests concerning the beneficial
ownership of respective
Fund Shares.
5.5. Each Party covenants that it will, from
time to time, as and
when requested by another Party, execute
and deliver or cause
to be executed and delivered all such
assignments and other
instruments, and take or cause to be
taken such further
action, as the other Party may deem
necessary or desirable in
order to vest in and confirm to, as
applicable, (a) the
Portfolio title to and possession of all
the Assets, (b) each
Fund titles to and possession of Class T
Shares, and (c) to
otherwise carry out the intent and
purposes of this Agreement.
5.6. Subject to the provisions of this
Agreement, each Fund and the
Portfolio shall take or cause to be taken
all action, and will
do or cause to be done all things,
reasonably necessary,
proper, or advisable to consummate and
make effective the
transactions contemplated by this
Agreement.
5.7. The Portfolio covenants to prepare, or
direct the preparation
of, the Prospectus/Proxy Statement to
be included in the
Registration Statement in compliance
with the 1933 Act, the
1934 Act and the 1940 Act.
6. CONDITIONS PRECEDENT TO OBLIGATIONS OF EACH FUND
The obligations of each Fund to consummate the
transactions provided
for herein shall be subject to the performance by
the Portfolio of all
the obligations to be performed by it
hereunder on or prior to the
Closing Date and the following further conditions:
17
<PAGE>
6.1. All representations and warranties of the
Portfolio contained
in this Agreement shall be true and
correct in all material
respects as of the date hereof and,
except as they may be
affected by the transactions
contemplated by this Agreement,
as of the Closing Date with the same
force and effect as if
made on and as of the Closing Date.
6.2. The Portfolio shall have delivered to the
Fund on the Closing
Date a certificate executed in its name
by the President or a
Vice President of IDEX II Series Fund,
in form and substance
satisfactory to the Fund and dated as of
the Closing Date, to
the effect that the representations and
warranties of the
Portfolio made in this Agreement are
true and correct at and
as of the Closing Date, except as they
may be affected by the
transactions contemplated by this
Agreement, and as to such
other matters as the Fund shall reasonably
request.
7. CONDITIONS PRECEDENT TO OBLIGATIONS OF THE
PORTFOLIO
The obligations of the Portfolio to complete the
transactions provided
for herein shall be subject to the performance by
each Fund of all the
obligations to be performed by it hereunder on or
prior to the Closing
Date and the following further conditions:
7.1. All representations and warranties of
each Fund contained in
this Agreement shall be true and
correct in all material
respects as of the date hereof and,
except as they may be
affected by the transactions
contemplated by this Agreement,
as of the Closing Date with the same
force and effect as if
made on and as of the Closing Date.
7.2. Each Fund shall have delivered to the
Portfolio on the Closing
Date a statement of its assets and
liabilities, which
statement shall be prepared in
accordance with generally
accepted accounting principles
consistently applied, together
with a list of its portfolio securities
showing the adjusted
tax bases of such securities by lot, as
of the Closing Date,
certified by the Principal Accounting
Officer of the Fund.
7.3. Each Fund shall have delivered to the
Portfolio on the Closing
Date a certificate executed in its name
by the President or a
Vice President of the Fund, in form and
substance satisfactory
to the Portfolio and dated as of the
Closing Date, to the
effect
18
<PAGE>
that the representations and warranties
of the Fund made in
this Agreement are true and correct at
and as of the Closing
Date, except as they may be affected
by the transactions
contemplated by this Agreement, and as
to such other matters
as the Portfolio shall reasonably request.
7.4. On or immediately prior to the Closing
Date, each Fund will
declare and pay to its shareholders of
record one or more
dividends and/or other distributions so
that each will have
distributed substantially all of its
investment company
taxable income (as defined in Section
852(b)(2) of the Code)
and net capital gain (as defined in
Sections 852(b)(3) and
1222(11) of the Code), computed in each
case without regard to
any deduction for dividends paid, for
all taxable years
through its liquidation.
8. FURTHER CONDITIONS PRECEDENT TO OBLIGATIONS OF THE
PORTFOLIO
AND EACH OF THE FUNDS
The obligations of the Portfolio and each Fund
hereunder are subject to
the further conditions that on or prior to the
Closing Date:
8.1. This Agreement and the transactions
contemplated hereby, and
any necessary waiver or suspension
of any investment
restriction of either Fund, shall have
been approved by the
requisite vote of the holders of the
respective outstanding
Fund Shares in accordance with the 1940
Act, the laws of the
Commonwealth of Massachusetts and the
provisions of each of
the Fund's Declaration of Trust,
and the appropriate
certificate(s) from the Secretary of the
Fund evidencing such
approval shall have been delivered to the
Portfolio.
8.2. On the Closing Date, no action, suit or
other proceeding shall
be pending before any court or
governmental agency in which it
is sought to restrain or prohibit, or
obtain damages or other
relief in connection with, this Agreement
or the transactions
contemplated herein.
8.3. All consents of other parties and all
consents, orders and
permits of federal, state and local
regulatory authorities
(including those of the Securities and
Exchange Commission and
of state Blue Sky or securities
authorities, including
"no-action"
19
<PAGE>
positions of such authorities) deemed
necessary by either the
Portfolio or either Fund to permit
consummation, in all
material respects, of the transactions
contemplated hereby
shall have been obtained, except where
failure to obtain any
such consent, order or permit would not
involve a risk of a
material adverse effect on either
Party's assets or
properties, provided that either the
Portfolio or a Fund may
for itself waive any part of this
condition.
8.4. The registration statement on Form N-14 of
IDEX II Series Fund
relating to the registration of Class
T Shares issuable
pursuant to the transactions
contemplated by this Agreement
shall have become effective under the
1933 Act, and no stop
orders suspending the effectiveness
thereof shall have been
issued, and, to the best knowledge of the
Parties hereto, no
investigation or proceeding under the
1933 Act for that
purpose shall have been instituted or be
pending, threatened
or contemplated.
8.5. The Registration Statement and the Post-
Effective Amendment on
Form N-1A of IDEX II Series Fund
relating to Class T Shares
shall have become effective under the
1933 Act, and no stop
orders suspending the effectiveness
thereof shall have been
issued, and, to the best knowledge of the
Parties hereto, no
investigation or proceeding under the
1933 Act for that
purpose shall have been instituted or be
pending, threatened
or contemplated.
8.6. The Parties shall have received all
permits and other
authorizations necessary under state
securities laws to
consummate the transactions contemplated
by this Agreement.
8.7. The Portfolio and each Fund shall have
received on or before
the Closing Date an opinion of counsel
substantially to the
effect that for federal income tax
purposes:
8.7.1. The Reorganization will
constitute a reorganization
within the meaning of section
368(a)(1)(C) of the
Code, and each Fund and the
Portfolio will be a
"party to a reorganization"
within the meaning of
section 368(b) of the Code.
8.7.2. No gain or loss will be
recognized to either Fund on
the transfer of the Assets
to the Portfolio in
exchange solely for the Class
T Shares and the
Portfolio's
20
<PAGE>
assumption of each Fund's
liabilities and the
subsequent distribution of
those shares to the
Shareholders in constructive
exchange for their Fund
Shares in liquidation of each
Fund.
8.7.3. No gain or loss will be
recognized to the Portfolio
on its receipt of the Assets
in exchange for the
Class T Shares and the
Portfolio's assumption of each
Fund's liabilities.
8.7.4. The Portfolio's basis for the
Assets will be the same
as each Fund's basis for the
Assets immediately
before the Reorganization.
8.7.5. The Portfolio's holding period
for the Assets will
include each Fund's therefor.
8.7.6. No gain or loss will be
recognized to the
Shareholders on the
constructive exchange of their
Fund Shares solely for Class T
Shares.
8.7.7. The basis of the Class T Shares
to be received by a
Shareholder will be the same as
the adjusted basis of
that Shareholder's Fund
Shares constructively
surrendered in exchange therefor.
8.7.8. The holding period of the Class T
Shares received by
a Shareholder will include the
Shareholder's holding
period for the Fund Shares
constructively surrendered
in exchange therefor, provided
such Fund Shares were
held as capital assets on the
Closing Date.
At any time prior to the Closing, any of the
foregoing conditions may
be waived by a Party if, in the judgment of its
Board of Trustees, such
waiver will not have a material adverse effect on
the interests of the
Shareholders.
21
<PAGE>
9. FINDER'S FEES AND EXPENSES
9.1. Each Party represents and warrants to the
other that there are
no finder's fees payable in connection
with the transactions
provided for herein.
9.2. The expenses of the Reorganization
shall be borne
proportionately by the Parties in a
manner determined and
agreed upon by duly authorized
officers of each Party;
approved by the Board of Trustees of
each Party; and
consistent with the requirements of
applicable law.
10. ENTIRE AGREEMENT; SURVIVAL OF WARRANTIES
10.1. Neither the Portfolio nor a Fund has made
any representation,
warranty or covenant not set forth herein,
and this Agreement
constitutes the entire agreement between
the Parties.
10.2. The representations, warranties and
covenants contained in
this Agreement or in any document
delivered pursuant hereto or
in connection herewith shall survive the
consummation of the
transactions contemplated hereunder.
11. TERMINATION
A Party may at its option terminate this
Agreement at or prior to the
Closing Date because of:
11.1. A mutual agreement among the Parties;
11.2. A material breach by another Party of
any representation,
warranty or covenant contained herein to
be performed at or
prior to the Closing Date; or
11.3. A condition herein expressed to be
precedent to the
obligations of a Party not having been
met and it reasonably
appearing that it will not or cannot be
met.
22
<PAGE>
In the event of any such termination, there shall
be no liability for
damages on the part of a Party or any trustee,
director, or officer of
any of the Parties.
12. AMENDMENT
This Agreement may be amended, modified or
supplemented at any time in
such manner as may be mutually agreed upon in
writing by the Parties;
provided, however, that following the
Shareholders' meeting called by
the Funds pursuant to paragraph 5.2, no such
amendment shall be made
that has a material adverse on the Shareholders'
interests unless the
Agreement, as modified, is approved by the
requisite vote of the
Shareholders.
13. NOTICES
Any notice, report, demand or other communication
required or permitted
by any provision of this Agreement shall be in
writing and shall be
given by hand delivery, or prepaid certified mail
or overnight delivery
service, addressed to Becky A. Ferrell, Vice
President & Counsel.
14. HEADINGS; COUNTERPARTS; GOVERNING LAW; ASSIGNMENT
14.1. The paragraph headings contained in
this Agreement are for
reference purposes only and shall not
affect in any way the
meaning or interpretation of this
Agreement.
14.2. This Agreement may be executed in any
number of counterparts,
each of which shall be deemed an original.
14.3. This Agreement shall be governed by
and construed in
accordance with the laws of the
Commonwealth of Massachusetts
except to the extent that the subject
matter covered by this
Agreement is governed by the federal
securities laws.
14.4. This Agreement shall bind and inure to
the benefit of the
Parties and their respective successors
and assigns, and no
assignment or transfer hereof or of any
rights or obligations
hereunder shall be made by either Party
without the written
consent of the other Party. Nothing
herein expressed or
implied is intended or shall be
construed to confer upon or
give any person, firm or corporation other
than the
23
<PAGE>
Parties and their respective successors
and assigns any rights
or remedies under or by reason of this
Agreement.
15. LIMITATION OF LIABILITY OF THE TRUSTEES AND
SHAREHOLDERS
Neither the trustees of either IDEX II Series Fund , IDEX
Fund or IDEX Fund 3
nor any shareholder of either the Portfolio or a Fund
shall be liable for any
obligations of IDEX II Series Fund, the Portfolio, or a
Fund pursuant to this
Agreement, and each Party agrees that, in asserting any
rights or claims under
this Agreement, it shall look only to the assets and
property of the other Party
in settlement of such rights or claims, and not to such
directors, trustees or
shareholders.
IN WITNESS WHEREOF, each Party has caused this Agreement
to be executed by the
undersigned officer of IDEX II Series Fund, IDEX Fund
and IDEX Fund 3,
respectively.
IDEX II SERIES
FUND on behalf of
Attest: IDEX II Growth
Portfolio
/S/ BECKY A. FERRELL /S/ G.
JOHN HURLEY
By:______________________________
By:______________________________
Secretary
President
IDEX FUND
Attest:
/S/ BECKY A. FERRELL /S/ G.
JOHN HURLEY
By:______________________________
By:______________________________
Secretary
President
IDEX FUND 3
Attest:
/S/ BECKY A. FERRELL /S/ G.
JOHN HURLEY
By:______________________________
By:______________________________
Secretary
President
24
<PAGE>
IDEX II SERIES FUND
201 Highland Avenue
Largo, Florida 33770-2957
Shareholder Services (800) 851-9777
STATEMENT OF ADDITIONAL INFORMATION
This Statement of Additional Information relates to the
proposed reorganization
whereby IDEX II Growth Portfolio of IDEX II Series
Fund ("IDEX II Growth
Portfolio") would acquire the assets of IDEX Fund and IDEX
Fund 3 (the "Funds")
in exchange solely for Class T shares of IDEX II Growth
Portfolio and the
assumption by Class T shares of IDEX II Growth
Portfolio of the Funds'
liabilities. This Statement of Additional Information
consists of this cover
page and the following described documents, each of which is
incorporated herein
by reference.
1. The Statement of Additional Information of IDEX
II Series Fund dated
February 1, 1996;
2. The Statements of Additional Information of IDEX
Fund and IDEX Fund 3
dated March 1, 1996;
3. The Annual Report of IDEX II Series Fund for the
fiscal year ended
September 30, 1995;
4. The Annual Reports of IDEX Fund and IDEX Fund 3
for the fiscal years
ended October 31, 1995;
5. The Semi-Annual Report of IDEX II Series Fund for
the six-month period
ended March 31, 1996;
6. The Semi-Annual Reports of IDEX Fund and IDEX Fund
3 for the six-month
periods ended April 30, 1996; and
7. The Pro Forma Combined Statement of Assets and
Liabilities as of March
31, 1996 and Pro Forma Combined Statement of Operations
for the fiscal year
ended September 30, 1995 for each of the following: IDEX
II Growth Portfolio,
IDEX Fund and IDEX Fund 3.
This Statement of Additional Information is not a
Prospectus and should be read
only in conjunction with the Prospectus/Proxy Statement
dated July 25, 1996
relating to the above-referenced matter. A copy of
this Prospectus/Proxy
Statement may be obtained without charge upon request to
IDEX Mutual Funds, 201
Highland Avenue, Largo, Florida 33770-2597, or by
calling toll-free
1-800-851-9777. This Statement of Additional Information is
dated July 25, 1996.
<PAGE>
<TABLE>
March 31, 1996
PRO FORMA COMBINED SCHEDULES OF INVESTMENTS (continued)
(unaudited)
<CAPTION>
IDEX II
Growth IDEX
IDEX Pro Forma
Portfolio Fund
Fund 3 Combined
Shares
<S> <C> <C>
<C> <C>
COMMON STOCK
Consumer, Cyclical
Broadcasting
Infinity Broadcasting Corp.
Class A * 95,768 63,190
32,520 191,478
Clothing/Fabric
Fila Holding SpA # 58,900 39,000
20,000 117,900
Gucci Group N.V. # 199,075 134,325
65,000 398,400
Entertainment
Walt Disney Company 127,975 85,425
43,100 256,500
Footware
Nike, Inc. Class B 124,650 84,550
40,975 250,175
Restuarants
McDonald's Corp. 22,825 15,450
7,625 45,900
Consumer, Non-Cyclical
Beverages
Coca-Cola Company 186,050 124,025
62,300 372,375
Pepsico, Inc. 36,525 24,775
12,050 73,350
Food - Retailers
Starbucks Corp. * 96,100 63,850
32,350 192,300
Health Care
Oxford Health Plans, Inc. * 158,275 106,825
51,725 316,825
Pacificare Health Systems,
Inc. Class B * 91,725 61,900
30,025 183,650
United Healthcare Corp. 93,525 62,500
31,325 187,350
Pharmaceuticals
Astra AB A-Free + 101,848 66,270
35,298 203,416
BioChem Pharma, Inc. * 28,375 19,250
9,375 57,000
Eli Lilly And Company 116,150 78,375
37,975 232,500
Johnson & Johnson 74,375 50,325
24,600 149,300
Pfizer, Inc. 230,150 149,300
77,500 456,950
SmithKline Beecham PLC # 173,900 117,400
56,950 348,250
SmithKline Beecham PLC
Class A + 21,410 15,571
5,839 42,820
Financial
Banks
Chemical Banking Corp. 115,700 77,900
39,000 232,600
Citicorp 179,085 119,610
60,150 358,845
First Interstate Bancorp 90,950 61,725
29,850 182,525
Diversified
Federal Home Loan Mortgage
Corp. 77,675 52,450
26,125 156,250
Federal National Mortgage
Association 287,820 192,320
96,640 576,780
First Data Corp. 320,325 209,225
109,150 638,700
Grupo Financiero Inbursa
S.A. Class B + * 307,225 199,700
112,950 619,875
Securities Brokers
Merrill Lynch and Company,
Inc. 236,725 157,800
80,225 474,750
Independent
Conglomerates
General Electric Company 66,875 45,200
21,875 133,950
Technology
Advanced Medical Devices
Medtronic, Inc. 95,900 63,475
32,475 191,850
Aerospace/Defense
The Boeing Company 55,625 37,675
18,275 111,575
Biotechnology
Amgen, Inc. * 166,900 110,475
56,500 333,875
Chiron Corp. * 68,475 46,350
22,825 137,650
U.S. Bioscience, Inc. * 3,186 -
- - 3,186
Communications
America Online, Inc. * 79,200 53,450
25,875 158,525
Ascend Communications, Inc. *430,400 285,600
146,050 862,050
Glenayre Technologies, Inc. *222,318 147,505
75,037 444,860
L.M. Ericsson Telephone
Company Class B # 230,550 154,000
77,425 461,975
PictureTel Corp. * 235,550 159,725
77,375 472,650
Premisys Communications Inc.*119,875 81,100
40,000 240,975
Tellabs, Inc. * 18,450 12,275
6,150 36,875
US Robotics Corp. 129,775 88,150
43,125 261,050
Computers
Cisco Systems, Inc. * 356,000 235,800
120,150 711,950
International Business
Machines Corp. 34,050 23,125
11,175 68,350
Shiva Corp. * 48,075 32,625
15,775 96,475
StrataCom, Inc. * 348,500 231,650
116,950 697,100
Sun Microsystems, Inc. * 135,300 91,325
44,225 270,850
Verity, Inc. * 37,300 25,250
12,450 75,000
Software
Broderbund Software, Inc. * 49,950 33,725
16,325 100,000
Dialogic Corp. * 22,625 15,350
7,425 45,400
HBO & Company 156,800 106,150
51,175 314,125
HNC Software, Inc. * 12,200 8,275
4,025 24,500
HPR, Inc. - 20,150
9,850 30,000
Informix Corp. * 192,675 130,125
63,025 385,825
Intuit, Inc. * 84,900 57,450
28,325 170,675
Microsoft Corp. * 137,200 93,000
45,075 275,275
Netscape Communications
Corp. * 98,675 65,625
33,050 197,350
PeopleSoft, Inc. * 145,250 98,325
48,425 292,000
Red Brick Systems, Inc. * 45,150 30,475
14,775 90,400
NON-CONVERTIBLE PREFERRED STOCK
Technology
Software
Sap AG Vorzug + 116,769 78,052
39,106 233,927
Principal
LONG-TERM U.S. GOVERNMENT SECURITIES
United States Treasury Notes
5.500%, 9-30-97 $ 15,000,000 $ 2,000,000 $
- - $ 17,000,000
SHORT-TERM U.S. GOVERNMENT SECURITIES
Federal National Mortgage Association
5.130%, 4-2-96 $ 20,000,000 $ 15,000,000 $
- - $ 35,000,000
5.170%, 4-15-96 15,000,000 10,000,000
- - 25,000,000
Federal Home Loan Mortgage Corp.
5.240%, 4-1-96 20,000,000 10,000,000
5,000,000 35,000,000
Total Short-Term U.S. Government Securities
COMMERCIAL PAPER
Ford Motor Credit Corp.
5.420%, 4-4-96 - -
7,000,000 7,000,000
General Electric Capital
5.400%, 4-3-96 - -
4,000,000 4,000,000
Household Finance Corp.
5.350%, 4-1-96 10,000,000 17,000,000
5,000,000 32,000,000
Prudential Funding Corp.
5.380%, 4-1-96 16,200,000 13,300,000
7,200,000 36,700,000
UNREALIZED GAIN ON FORWARD FOREIGN CURRENCY CONTRACTS
D German Deutschmark
4-11-96 Sell 10,000,000 6,500,000
3,500,000 20,000,000
D German Deutschmark
4-25-96 Sell 1,000,000 1,000,000
- - 2,000,000
D German Deutschmark
8-22-96 Sell 10,822,000 7,117,000
3,707,000 21,646,000
</TABLE>
<TABLE>
<CAPTION>
IDEX II
% Combined
Growth IDEX
IDEX Pro Forma Value of
Portfolio Fund
Fund 3 Combined Net Assets
Market
Value
<S> <C> <C>
<C> <C> <C>
COMMON STOCK
Consumer, Cyclical
EBroadcasting
Infinity Broadcasting Corp.
Class A * $ 4,153,937 $ 2,740,866
$ 1,410,555 $8,305,358 0.8%
Clothing/Fabric
Fila Holding SpA # 3,762,238 2,491,125
1,277,500 7,530,863 0.7%
Gucci Group N.V. # * 9,555,600 6,447,600
3,120,000 19,123,200 1.8%
13,317,838 8,938,725
4,397,500 26,654,063 2.5%
Entertainment
Walt Disney Company 8,174,403 5,456,521
2,753,013 16,383,937 1.6%
Footware
Nike, Inc. Class B 10,127,813 6,869,687
3,329,219 20,326,719 1.9%
Restuarants
McDonald's Corp. 1,095,600 741,600
366,000 2,203,200 0.2%
Consumer, Non-Cyclical
Beverages
Coca-Cola Company 15,372,381 10,247,565
5,147,538 30,767,484 2.9%
Pepsico, Inc. 2,310,206 1,567,019
762,163 4,639,388 0.5%
17,682,587 11,814,584
5,909,701 35,406,872 3.4%
Food - Retailers
Starbucks Corp. * 2,240,331 1,488,503
754,159 4,482,993 0.4%
Health Care
Oxford Health Plans, Inc. *13,888,631 9,373,894
4,538,869 27,801,394 2.6%
Pacificare Health Systems,
Inc. Class B * 7,819,556 5,276,975
2,559,631 15,656,162 1.5%
United Healthcare Corp. 5,751,788 3,843,750
1,926,487 11,522,025 1.1%
27,459,975 18,494,619
9,024,987 54,979,581 5.2%
Pharmaceuticals
Astra AB A-Free + 4,719,703 3,070,996
1,635,733 9,426,432 0.9%
BioChem Pharma, Inc. * 1,163,375 789,250
384,375 2,337,000 0.2%
Eli Lilly And Company 7,549,750 5,094,375
2,468,375 15,112,500 1.4%
Johnson & Johnson 6,861,094 4,642,481
2,269,350 13,772,925 1.3%
Pfizer, Inc. 15,420,050 10,003,100
5,192,500 30,615,650 2.9%
SmithKline Beecham PLC # 8,955,850 6,046,100
2,932,925 17,934,875 1.8%
SmithKline Beecham PLC
Class A + 214,688 156,138
58,550 429,376 0.0%
44,884,510 29,802,440
14,941,808 89,628,758 8.5%
Financial
Banks
Chemical Banking Corp. $ 8,156,850 $ 5,491,950
$ 2,749,500 $16,398,300 1.6%
Citicorp 14,326,800 9,568,800
4,812,000 28,707,600 2.7%
First Interstate Bancorp 15,779,825 10,709,287
5,178,975 31,668,087 3.0%
38,263,475 25,770,037
12,740,475 76,773,987 7.3%
Diversified
Federal Home Loan Mortgage
Corp. 6,621,794 4,471,362
2,227,156 13,320,312 1.3%
Federal National Mortgage
Association 9,174,262 6,130,200
3,080,400 18,384,862 1.7%
First Data Corp. 22,582,912 14,750,363
7,695,075 45,028,350 4.3%
Grupo Financiero Inbursa
S.A. Class B + * 1,181,949 768,281
434,539 2,384,769 0.2%
39,560,917 26,120,206
13,437,170 79,118,293 7.5%
Securities Brokers
Merrill Lynch and Company,
Inc. 14,381,044 9,586,350
4,873,669 28,841,063 2.7%
Independent
Conglomerates
General Electric Company 5,207,891 3,519,950
1,703,516 10,431,357 1.0%
Technology
Advanced Medical Devices
Medtronic, Inc. 5,718,038 3,784,697
1,936,322 11,439,057 1.1%
Aerospace/Defense
The Boeing Company 4,818,516 3,263,597
1,583,072 9,665,185 0.9%
Biotechnology
Amgen, Inc. * 9,701,062 6,421,359
3,284,063 19,406,484 1.8%
Chiron Corp. * 6,727,669 4,553,887
2,242,556 13,524,112 1.3%
U.S. Bioscience, Inc. * 20,908 -
- - 20,908 0.0%
16,449,639 10,975,246
5,526,619 32,951,504 3.1%
Communications
America Online, Inc. * 4,435,200 2,993,200
1,449,000 8,877,400 0.8%
Ascend Communications,
Inc. * 23,187,800 15,386,700
7,868,444 46,442,944 4.4%
Glenayre Technologies,
Inc. * 8,503,663 5,642,066
2,870,165 17,015,894 1.6%
L.M. Ericsson Telephone
Company Class B # 4,928,006 3,291,750
1,654,959 9,874,715 0.9%
PictureTel Corp. * 7,302,050 4,951,475
2,398,625 14,652,150 1.4%
Premisys Communications
Inc. * 3,895,938 2,635,750
1,300,000 7,831,688 0.8%
Tellabs, Inc. * 892,519 593,803
297,506 1,783,828 0.2%
US Robotics Corp. 16,773,419 11,393,388
5,573,906 33,740,713 3.2%
69,918,595 46,888,132
23,412,605 140,219,332 13.3%
Computers
Cisco Systems, Inc. * $ 16,509,500 $ 10,935,225
$ 5,571,956 $33,016,681 3.1%
International Business
Machines Corp. 3,783,806 2,569,766
1,241,822 7,595,394 0.7%
Shiva Corp. * 4,362,806 2,960,719
1,431,581 8,755,106 0.8%
StrataCom, Inc. * 12,763,813 8,484,181
4,283,294 25,531,288 2.4%
Sun Microsystems, Inc. * 5,919,375 3,995,469
1,934,843 11,849,687 1.2%
Verity, Inc. * 1,258,875 852,188
420,187 2,531,250 0.2%
44,598,175 29,797,548
14,883,683 89,279,406 8.4%
Software
Broderbund Software, Inc. * 1,885,612 1,273,119
616,269 3,775,000 0.4%
Dialogic Corp. * 955,906 648,538
313,706 1,918,150 0.2%
HBO & Company 14,778,400 10,004,637
4,823,244 29,606,281 2.7%
HNC Software, Inc. * 829,600 562,700
273,700 1,666,000 0.2%
HPR, Inc. - 778,294
380,456 1,158,750 0.1%
Informix Corp. * 5,081,803 3,432,047
1,662,284 10,176,134 1.0%
Intuit, Inc. * 3,820,500 2,585,250
1,274,625 7,680,375 0.7%
Microsoft Corp. * 14,148,750 9,590,625
4,648,359 28,387,734 2.6%
Netscape Communications
Corp. * 4,095,013 2,723,438
1,371,575 8,190,026 0.8%
PeopleSoft, Inc. * 8,351,875 5,653,688
2,784,438 16,790,001 1.6%
Red Brick Systems, Inc. * 1,941,450 1,310,425
635,325 3,887,200 0.4%
55,888,909 38,562,761
18,783,981 113,235,651 10.7%
Total Common Stock ( cost
$289,780,679, $195,744,687,
$95,974,989 and $581,500,355,
respectively) 423,942,193 284,616,069
141,768,054 850,326,316 80.5%
NON-CONVERTIBLE PREFERRED STOCK
Technology
Software
Sap AG Vorzug + 16,715,172 11,172,936
5,597,920 33,486,028 3.2%
(cost $6,857,763,
$4,583,163, $2,296,905
and $13,737,831,
respectively)
Market Value
LONG-TERM U.S. GOVERNMENT SECURITIES
United States Treasury Notes
5.500%, 9-30-97 $ 14,959,350 $ 1,994,580
$ - $16,953,930 1.6%
(cost $15,076,778,
$2,010,181 and
$17,086,959,
respectively)
SHORT-TERM U.S. GOVERNMENT SECURITIES
Federal National Mortgage Association
5.130%, 4-2-96 $ 19,997,150 $ 14,997,863
$ - $34,995,013 3.3%
5.170%, 4-15-96 14,969,842 9,979,894
- - 4,949,736 2.4%
Federal Home Loan Mortgage Corp.
5.240%, 4-1-96 20,000,000 10,000,000
5,000,000 35,000,000 3.3%
Total Short-Term U.S. Government Securities
54,966,992 34,977,757
5,000,000 94,944,749 9.0%
(cost $54,966,991,
$34,977,757, $5,000,000
and $94,944,749,
respectively)
COMMERCIAL PAPER
Ford Motor Credit Corp.
5.420%, 4-4-96 - -
6,996,838 6,996,838 0.6%
General Electric Capital
5.400%, 4-3-96 - -
3,998,800 3,998,800 0.4%
Household Finance Corp.
5.350%, 4-1-96 10,000,000 17,000,000
5,000,000 32,000,000 3.0%
Prudential Funding Corp.
5.380%, 4-1-96 16,200,000 13,300,000
7,200,000 36,700,000 3.4%
Total Commercial Paper 26,200,000 30,300,000
23,195,638 79,695,638 7.4%
Cost $26,200,000, $30,300,000,
$23,195,638 and $79,695,638,
respectively)
Total Investments 536,783,707 363,061,342
175,561,6121,075,406,661 101.7%
Cost $392,882,211, $267,615,788,
$126,467,532 and $786,965,531,
respectively)
UNREALIZED GAIN ON FORWARD FOREIGN CURRENCY CONTRACTS
D German Deutschmark
4-11-96 Sell 292,250 189,963
102,288 584,501
D German Deutschmark
4-25-96 Sell 44,916 44,916
- - 89,832
D German Deutschmark
8-22-96 Sell 113,128 74,397
38,751 226,276
450,294 309,276
141,039 900,609 0.1%
Liabilities in excess of
other Assets (9,583,558) (6,448,234)
(3,251,916) (19,283,708) -1.8%
Pro Forma Adjustments - -
- - (326,000) 0.0%
Net Assets $ 527,650,443 $ 356,922,384
$ 172,450,7351,056,697,562 100.0%
</TABLE>
Notes to Pro Forma Combined Schedules of Investments
* Presently non-income producing.
+ Foreign securities.
# American Depository Receipts or Global Depository
Receipts.
September 30, 1995
PRO FORMA COMBINED SCHEDULES OF INVESTMENTS (continued)
(unaudited)
<TABLE>
<CAPTION>
IDEX II
Growth IDEX
IDEX Pro Forma
Portfolio Fund
Fund 3 Combined
Principal
<S> <C> <C>
<C> <C>
COMMON STOCK
Basic Materials
Forest Products
Georgia Pacific Corp. 78,050 50,825
26,425 155,300
Other Non-ferrous
Phelps Dodge Corp. 2,625 1,725
900 5,250
Consumer, Cyclical
Broadcasting
Infinity Broadcasting Corp.
Class A * 95,768 63,190
32,520 191,478
Casinos
Circus Circus Enterprises,
Inc.* 102,550 67,850
34,775 205,175
Consumer Electronics
Samsung Electronics Company,
Ltd.#* 5,890 3,890
2,010 11,790
Entertainment
Walt Disney Company 161,375 105,125
54,875 321,375
Footware
Nike, Inc. Class B 22,350 14,550
7,575 44,475
Retailers-Specialty
Lowe's Companies, Inc. 190,920 126,500
64,690 382,110
Consumer, Non-Cyclical
Beverages
Coca-Cola Company 210,975 136,725
71,100 418,800
Health Care
Oxford Health Plans, Inc. * 121,725 80,550
41,250 243,525
Pacificare Health Systems,
Inc. Class B * 23,425 15,500
7,950 46,875
United Healthcare Corp. 58,575 38,775
19,875 117,225
Pharmaceuticals
Agouron Pharmaceuticals, Inc.* 39,950 26,400
13,550 79,900
Astra AB A-Free + 101,848 66,270
35,298 203,416
Pfizer, Inc. 230,150 149,300
77,500 456,950
SmithKline Beecham PLC # 103,250 68,350
35,000 206,600
Financial
Banks
Citicorp 147,185 95,135
48,925 291,245
First Interstate Bancorp 79,500 51,900
27,000 158,400
Diversified
Federal Home Loan Mortgage
Corp. 69,300 45,475
23,500 138,275
Federal National Mortgage
Association 56,205 36,830
19,035 112,070
First Data Corp. 320,325 209,225
109,150 638,700
Grupo Financiero Inbursa
S.A. Class B + * 307,225 199,700
112,950 619,875
Securities Brokers
Merrill Lynch and Company,
Inc. 278,850 184,750
94,500 558,100
Industrial
Containers and Packaging
Liqui-Box Corp. 75,075 60,975
37,255 173,305
Technology
Advanced Medical Devices
Medtronic, Inc. 72,800 48,200
24,700 145,700
Biotechnology
Amgen, Inc. * 164,225 108,450
55,775 328,450
U.S. Bioscience, Inc. * 3,222 -
- - 3,222
Communications
America Online, Inc. * 58,625 38,700
19,875 117,200
Ascend Communications, Inc. * 122,225 80,150
41,450 243,825
AT&T Corp. 158,175 104,775
53,600 316,550
DSC Communications Corp.* 81,000 53,425
27,475 161,900
Glenayre Technologies, Inc. * 135,437 89,412
46,150 270,999
L.M. Ericsson Telephone
Company Class B # 575,325 378,875
195,125 1,149,325
Motorola, Inc. 141,125 92,950
47,850 281,925
PictureTel Corp. * 145,275 95,850
49,325 290,450
Tellabs, Inc. * 23,725 15,675
8,075 47,475
US Robotics Corp. 179,850 118,450
61,050 359,350
Computers
Cisco Systems, Inc. * 148,675 98,025
50,700 297,400
Hewlett-Packard Company 117,550 77,875
39,825 235,250
International Business
Machines Corp. 47,050 31,075
15,950 94,075
StrataCom, Inc. * 185,550 122,325
63,275 371,150
Sun Microsystems, Inc. * 266,100 176,125
90,250 532,475
3COM Corp.* 23,450 7,775
4,000 35,225
Diversified
Texas Instruments, Inc. 244,375 161,370
82,995 488,740
Semiconductors
Altera Corp.* 116,775 77,250
39,600 233,625
Intel Corp. 46,900 46,550
23,850 117,300
LSI Logic Corp.* 167,150 110,725
56,650 334,525
Software
Autodesk, Inc. 65,850 43,400
22,350 131,600
Broderbund Software, Inc. * 68,250 45,050
23,150 136,450
Cerner Corp.* 19,150 12,500
6,550 38,200
HBO & Company 98,000 64,800
33,325 196,125
Informix Corp. * 262,050 171,925
89,000 522,975
Intuit, Inc. * 77,550 50,550
26,400 154,500
Microsoft Corp. * 200,250 131,875
67,900 400,025
Netscape Communications Corp. *64,725 42,625
21,950 129,300
PeopleSoft, Inc. * 25,125 16,425
8,525 50,075
CONVERTIBLE PREFERRED STOCK
Technology
Diversified
Nokia AB OY# 170,400 112,125
57,800 340,325
Nokia AB OY Cumulative+ 45,968 29,832
15,748 91,548
NON-CONVERTIBLE PREFERRED STOCK
Technology
Software
Sap AG Vorzug + 16,040 120,350
64,000 200,390
Principal
LONG-TERM U.S. GOVERNMENT SECURITIES
United States Treasury Notes
5.500%, 9-30-97 $ 15,000,000 $ 2,000,000 $
- - $ 17,000,000
SHORT-TERM U.S. GOVERNMENT SECURITIES
Federal Home Loan Bank
5.590%, 10-11-95 - 5,000,000
- - 5,000,000
Federal National Mortgage Association
5.680%, 10-10-95 - -
5,000,000 5,000,000
COMMERCIAL PAPER
Ford Motor Credit Corp.
5.770%, 10-5-95 $ 20,000,000 $ - $
5,000,000 $ 25,000,000
Ford Motor Credit Corp.
5.740%, 10-2-95 - 16,000,000
- - 16,000,000
General Electric Capital
6.500%, 10-2-95 20,600,000 15,800,000
7,900,000 44,300,000
Household Finance Company
6.250%, 10-2-95 - 3,000,000
- - 3,000,000
UNREALIZED GAIN (LOSS) ON FORWARD FOREIGN CURRENCY CONTRACTS
D German Deutschmark
10-26-95 Sell 11,000,000 7,000,000
3,800,000 21,800,000
D German Deutschmark
11-17-95 Sell 10,822,000 7,117,000
3,707,000 21,646,000
</TABLE>
<TABLE>
<CAPTION>
IDEX II
% Combined
Growth IDEX
IDEX Pro Forma Value of
Portfolio Fund
Fund 3 Combined Net Assets
Market
Value
<S> <C> <C>
<C> <C> <C>
COMMON STOCK
Basic Materials
Forest Products
Georgia Pacific Corp. $ 6,829,375 $ 4,447,188
$ 2,312,187 $ 13,588,750 1.3%
Other Non-ferrous
Phelps Dodge Corp. 164,391 108,028
56,363 328,782 0.1%
Consumer, Cyclical
Broadcasting
Infinity Broadcasting Corp.
Class A * 3,136,402 2,069,473
1,065,030 6,270,905 0.5%
Casinos
Circus Circus Enterprises,
Inc.* 2,871,400 1,899,800
973,700 5,744,900 0.6%
Consumer Electronics
Samsung Electronics Company,
Ltd.#* 830,137 548,257
283,289 1,661,683 0.2%
Entertainment
Walt Disney Company 9,258,891 6,031,547
3,148,453 18,438,891 1.8%
Footware
Nike, Inc. Class B 2,483,644 1,616,869
841,772 4,942,285 0.5%
Retailers-Specialty
Lowe's Companies, Inc. 5,727,600 3,795,000
1,940,700 11,463,300 1.2%
Consumer, Non-Cyclical
Beverages
Coca-Cola Company 14,557,275 9,434,025
4,905,900 28,897,200 2.8%
Health Care
Oxford Health Plans, Inc. * 8,855,494 5,860,013
3,000,937 17,716,444 1.8%
Pacificare Health Systems,
Inc. Class B * 1,592,900 1,054,000
540,600 3,187,500 0.3%
United Healthcare Corp. 2,862,853 1,895,128
971,391 5,729,372 0.6%
13,311,247 8,809,141
4,512,928 26,633,316 2.7%
Pharmaceuticals
Agouron Pharmaceuticals,
Inc.* 1,148,562 759,000
389,563 2,297,125 0.2%
Astra AB A-Free + 3,643,241 2,370,567
1,262,657 7,276,465 0.7%
Pfizer, Inc. 12,284,256 7,968,888
4,136,563 24,389,707 2.5%
SmithKline Beecham PLC # 5,227,031 3,460,219
1,771,875 10,459,125 1.1%
22,303,090 14,558,674
7,560,658 44,422,422 4.5%
Financial
Banks
Citicorp $ 10,413,339 $ 6,730,801
$ 3,461,444 $ 20,605,584 2.1%
First Interstate Bancorp 8,009,625 5,228,925
2,720,250 15,958,800 1.6%
18,422,964 11,959,726
6,181,694 36,564,384 3.7%
Diversified
Federal Home Loan Mortgage
Corp. 4,790,362 3,143,459
1,624,438 9,558,259 1.0%
Federal National Mortgage
Association 5,817,217 3,811,905
1,970,123 11,599,245 1.2%
First Data Corp. 19,860,150 12,971,950
6,767,300 39,599,400 4.0%
Grupo Financiero Inbursa
S.A. Class B + * 967,221 628,705
355,595 1,951,521 0.2%
31,434,950 20,556,019
10,717,456 62,708,425 6.4%
Securities Brokers
Merrill Lynch and Company,
Inc. 17,428,125 11,546,875
5,906,250 34,881,250 3.4%
Industrial
Containers and Packaging
Liqui-Box Corp. 2,224,097 1,806,384
1,103,679 5,134,160 0.5%
Technology
Advanced Medical Devices
Medtronic, Inc. 3,913,000 2,590,750
1,327,625 7,831,375 0.7%
Biotechnology
Amgen, Inc. * 8,190,722 5,408,944
2,781,778 16,381,444 1.7%
U.S. Bioscience, Inc. * 15,909 -
- - 15,909 0.1%
8,206,631 5,408,944
2,781,778 16,397,353 1.8%
Communications
America Online, Inc. * 4,030,469 2,660,625
1,366,405 8,057,499 0.8%
Ascend Communications, Inc. *9,778,000 6,412,000
3,316,000 19,506,000 2.0%
AT&T Corp. 10,400,006 6,888,956
3,524,200 20,813,162 2.1%
DSC Communications Corp.* 4,799,250 3,165,431
1,627,894 9,592,575 1.0%
Glenayre Technologies,
Inc. * 9,751,464 6,437,664
3,322,800 19,511,928 2.0%
L.M. Ericsson Telephone
Company Class B # 14,095,462 9,282,438
4,780,563 28,158,463 2.9%
Motorola, Inc. 10,778,422 7,099,056
3,654,543 21,532,021 2.2%
PictureTel Corp. * 6,573,694 4,337,213
2,231,955 13,142,862 1.3%
Tellabs, Inc. * 999,416 660,309
340,159 1,999,884 0.2%
US Robotics Corp. 15,332,213 10,097,863
5,204,513 30,634,589 3.1%
86,538,396 57,041,555
29,369,032 172,948,983 17.6%
Computers
Cisco Systems, Inc. * $ 10,258,575 $ 6,763,725
$ 3,498,300 $ 20,520,600 2.1%
Hewlett-Packard Company 9,800,731 6,492,827
3,320,409 19,613,967 2.0%
International Business
Machines Corp. 4,440,344 2,932,703
1,505,281 8,878,328 0.9%
StrataCom, Inc. * 10,182,056 6,712,584
3,472,216 20,366,856 2.1%
Sun Microsystems, Inc. * 16,764,300 11,095,875
5,685,750 33,545,925 3.4%
3COM Corp.* 1,066,975 353,763
182,000 1,602,738 0.2%
52,512,981 34,351,477
17,663,956 104,528,414 10.7%
Diversified
Texas Instruments, Inc. 19,519,453 12,889,429
6,629,226 39,038,108 4.0%
Semiconductors
Altera Corp.* 7,283,841 4,818,469
2,470,050 14,572,360 1.5%
Intel Corp. 2,819,863 2,798,819
1,433,981 7,052,663 0.7%
LSI Logic Corp.* 9,652,912 6,394,369
3,271,538 19,318,819 2.0%
19,756,616 14,011,657
7,175,569 40,943,842 4.2%
Software
Autodesk, Inc. 2,880,937 1,898,750
977,813 5,757,500 0.5%
Broderbund Software, Inc. * 5,195,531 3,429,431
1,762,294 10,387,256 1.0%
Cerner Corp.* 655,888 428,125
224,337 1,308,350 2.6%
HBO & Company 6,125,000 4,050,000
2,082,813 12,257,813 2.7%
Informix Corp. * 8,516,625 5,587,562
2,892,500 16,996,687 1.6%
Intuit, Inc. * 3,644,850 2,375,850
1,240,800 7,261,500 0.6%
Microsoft Corp. * 18,122,625 11,934,687
6,144,950 36,202,262 2.5%
Netscape Communications
Corp. * 4,045,312 2,664,063
1,371,875 8,081,250 0.8%
PeopleSoft, Inc. * 2,283,234 1,492,622
774,709 4,550,565 0.5%
51,470,002 33,861,090
17,472,091 102,803,183 12.8%
Total Common Stock 392,900,667 259,341,908
133,929,336 786,171,911 82.0%
(cost $285,768,388, $189,141,927,
$96,998,710 and $571,909,025,
respectively)
CONVERTIBLE PREFERRED STOCK
Technology
Diversified
Nokia AB OY# $ 11,885,400 $ 7,820,719
$ 4,031,550 $ 23,737,669 2.4%
Nokia AB OY Cumulative+ 3,225,787 2,093,449
1,105,110 6,424,346 0.7%
15,111,187 9,914,168
5,136,660 30,162,015 3.1%
NON-CONVERTIBLE PREFERRED STOCK
Technology
Software
Sap AG Vorzug + 30,268,929 19,581,088
10,412,876 60,262,893 6.1%
Total Preferred Stock 45,380,116 29,495,256
15,549,536 90,424,908 9.2%
(cost $19,202,450, $12,528,583,
$6,584,031 and $38,315,064,
respectively)
Market
Value
LONG-TERM U.S. GOVERNMENT SECURITIES
United States Treasury Notes
5.500%, 9-30-97 $ 14,910,600 $ 1,988,080 $
- - $ 16,898,680 1.7%
(cost $15,101,099, $2,013,406,
$0 and $17,114,505,
respectively)
SHORT-TERM U.S. GOVERNMENT SECURITIES
Federal Home Loan Bank
5.590%, 10-11-95 - 4,992,236
- - 4,992,236 0.5%
Federal National Mortgage Association
5.680%, 10-10-95 - -
4,992,900 4,992,900 0.5%
Total Short-Term U.S.
Government Securities - 4,992,236
4,992,900 9,985,136 1.0%
(cost $0, $4,992,236,
$4,992,900 and $9,985,136,
respectively)
COMMERCIAL PAPER
Ford Motor Credit Corp.
5.770%, 10-5-95 $ 19,987,178 $ -
$ 4,996,794 $ 24,983,972 0.5%
Ford Motor Credit Corp.
5.740%, 10-2-95 - 15,997,449
- - 15,997,449 1.5%
General Electric Capital
6.500%, 10-2-95 20,596,280 15,797,147
7,898,574 44,292,001 4.4%
Household Finance Company
6.250%, 10-2-95 - 2,999,479
- - 2,999,479 0.2%
Total Commercial Paper 40,583,458 34,794,075
12,895,368 88,272,901 6.6%
(cost $40,583,458, $34,794,075,
$12,895,368 and $88,272,901,
respectively)
Total Investments 493,774,841 330,611,555
167,367,140 991,753,536 100.5%
(cost #360,655,395, $243,470,227,
$121,471,009 and $725,596,631,
respectively)
UNREALIZED GAIN (LOSS) ON FORWARD FOREIGN CURRENCY CONTRACTS
D German Deutschmark
10-26-95 Sell 261,217 166,229
90,239 517,685
D German Deutschmark
11-17-95 Sell (107,891) (70,954)
(36,957) (215,802)
153,326 95,275
53,282 301,883 0.1%
Liabilities in excess
of other Assets (2,400,470) (2,492,131)
(891,241) (5,783,842) -0.6%
Pro Forma Adjustments - -
- - (326,000) 0.0%
Net Assets $ 491,527,697 $ 328,214,699 $
166,529,181 $ 985,945,577 100.0%
</TABLE>
Notes to Pro Forma Combined Schedules of Investments
* Presently non-income producing.
+ Foreign securities.
# American Depository Receipts or Global Depository
Receipts.
<TABLE>
September 30, 1995
PRO FORMA COMBINED STATEMENTS OF ASSETS AND LIABILITIES
(unaudited)
All numbers (except per share amounts) in thousands
<CAPTION>
IDEX II IDEX
IDEX Pro Forma Pro Forma
Growth Portfolio Fund
Fund Adjustments Combined
<S> <C> <C> <C>
<C> <C>
Assets:
Investment securities,
at market value $ 493,775 $ 330,612 $
167,367 $ - $ 991,754
Cash, receivables and
other assets 10,917 5,646
3,195 - 19,758
Total assets 504,692 336,258
170,562 - 1,011,512
Liabilities:
Total liabilities 13,164 8,043
4,033 326 25,566
Net assets $ 491,528 $ 328,215 $
166,529 $ (326) 985,946
Investment securities, at cost 360,655 243,470
121,471 - 725,596
Net assets consist of:
Shares of beneficial interest,
unlimited shares authorized 307,416 201,188
94,099 (326) 602,377
Accumulated undistributed net
investment income (loss) - 18
(5) - 13
Accumulated undistributed net
realized gain from
investments and foreign
currency transactions 50,839 39,773
26,486 - 117,098
Net unrealized appreciation of
investments and on translation
of assets and liabilities
in foreign currencies 133,273 87,236
45,949 - 266,458
Net assets $ 491,528 $ 328,215 $
166,529 $ (326) $ 985,946
Shares outstanding:
Class A shares 21,271 -
- - - 21,271
Class B shares - -
- - - -
Class C shares 247 -
- - - 247
Class T shares - -
- - 21,539 21,539
IDEX Fund - 13,901
- - (13,901) -
IDEX Fund 3 - -
8,423 (8,423) -
Net asset value per share (net assets divided by shares
outstanding):
Class A shares $ 22.84 $ - $
- - $ 22.84
Class B shares - -
- - -
Class C shares 22.64 -
- - 22.64
Class T shares - -
- - 22.97
IDEX Fund - 23.61
- - -
IDEX Fund 3 - -
19.77 -
Offering price per share:
Class A shares (1) $ 24.17 $ -
- - $ 24.17
Class B shares - -
- - -
Class C shares 22.64 -
- - 22.64
Class T shares - -
- - 25.10
IDEX Fund - 25.80
- - -
IDEX Fund 3 - -
21.61 -
<FN>
(1) Includes the maximum selling commission (represented as
a percentage of
offering price) which is reduced on sales of $50,000 or
more as set forth in the Prospectus.
</FN>
</TABLE>
<TABLE>
For the year ended September 30, 1995
PRO FORMA COMBINED STATEMENTS OF OPERATIONS (unaudited)
All numbers in thousands
<CAPTION>
IDEX II IDEX
IDEX Pro Forma Pro Forma
Growth Portfolio Fund
Fund 3 Adjustments Combined
<S> <C> <C>
<C> <C> <C>
Investment Income:
Dividends, interest,
and other $ 6,867 $ 4,543
$ 2,213 $ - $ 13,623
Expenses:
Management and advisory fees 4,292 2,799
1,461 (102) 8,450
Distribution fees:
Class A 1,488 -
- - - 1,488
Class B - -
- - - -
Class C 38 -
- - - 38
Transfer agent fees and expenses 1,741 1,011
360 (110) 3,002
Custody fees and expenses 156 53
35 (81) 163
Registration fees 37 29
75 (85) 56
Audit fees and expenses 25 19
22 (21) 45
Trustees fees and expenses 51 35
38 - 124
Other 203 50
26 (24) 255
Less amounts/reimbursed by the
investment adviser - -
- - - -
8,031 3,996
2,017 (423) 13,621
Custodian earnings and
Brokerage credits (121) (77)
(39) - (237)
Net expenses 7,910 3,919
1,978 (423) 13,384
Net investment income
(loss) (1,043) 624
235 423 239
Realized and unrealized gain on investments
and foreign currency:
Net realized gain on investments and foreign currency
55,933 39,080
26,591 - 121,604
Net unrealized appreciation during the period on
investments and foreign currency
81,841 50,142
22,411 - 154,394
Net gain on investments and foreign currency
137,774 89,222
49,002 - 275,998
Net increase in net assets resulting
from operations
$ 136,731 $ 89,846
$ 49,237 $ 423 $ 276,237
</TABLE>
<TABLE>
March 31, 1996
PRO FORMA COMBINED STATEMENTS OF ASSETS AND LIABILITIES
(unaudited)
All numbers (except per share amounts) in thousands
<CAPTION>
IDEX II IDEX
IDEX Pro Forma Pro Forma
Growth Portfolio Fund
Fund 3 Adjustments (2) Combined
<S> <C> <C> <C>
<C> <C>
Assets:
Investment securities,
at market value $ 536,784 $ 363,061 $
175,562 $ - $ 1,075,407
Cash, receivables and
other assets 2,602 1,293
564 - 4,459
Total assets 539,386 364,354
76,126 - 1,079,866
Liabilities:
Total liabilities 11,736 7,432
3,675 326 23,169
Net assets $ 527,650 $ 356,922 $
172,451 $ (326) $ 1,056,697
Investment securities,
at cost $ 392,882 $ 267,616 $
126,468 $ - 786,966
Net assets consist of:
Shares of beneficial
interest, unlimited
shares authorized $ 362,337 $ 244,608 $
114,356 $ (326) $ 720,975
Accumulated undistributed
net investment income (loss) (820) 421
- - (248)
Accumulated undistributed net
realized gain from investments
and foreign currency
transactions 21,781 16,138
8,709 - 46,628
Net unrealized appreciation of
investments and on translation
of assets and liabilities in
foreign currencies 144,352 95,755
49,235 - 289,342
Net assets $ 527,650 $ 356,922 $
172,451 $ (326) $ 1,056,697
Shares outstanding:
Class A shares 23,759 -
- - - 23,759
Class B shares 65 -
- - - 65
Class C shares 355 -
- - - 355
Class T shares - -
- - 24,095 24,095
IDEX Fund - 15,984
- - (15,984) -
IDEX Fund 3 - -
9,679 (9,679) -
Net asset value per share (net assets divided by shares
outstanding):
Class A shares $ 21.82 $ - $
- - $ 21.82
Class B shares $ 21.53 $ - $
- - $ 21.52
Class C shares $ 21.57 $ - $
- - $ 21.56
Class T shares$ - $ - $
- - $ 21.97
IDEX Fund $ - $ 22.33 $
- - $ -
IDEX Fund 3 $ - $ - $
17.82 $ -
Offering price per share:
Class A shares (1) $ 23.09 $ - $
- - $ 23.09
Class B shares $ 21.53 $ - $
- - $ 21.52
Class C shares $ 21.57 $ - $
- - $ 21.56
Class T shares (1) $ - $ - $
- - $ 24.01
IDEX Fund $ - $ 24.40 $
- - $ -
IDEX Fund 3 $ - $ - $
19.48 $ -
<FN>
(1) Includes the maximum selling commission (represented
as a percentage of
offering price) as set forth in the Prospectus.
(2) In connection with the reorganization, the combined
Portfolio will expend
non-recurring costs of approximately $326,000 or $0.01 per
share. See Notes to
Pro Forma Combined Financial Statements.
</FN>
</TABLE>
<TABLE>
For the six months ended March 31, 1996
PRO FORMA COMBINED STATEMENTS OF OPERATIONS (unaudited)
All numbers in thousands
<CAPTION>
IDEX II IDEX
IDEX Pro Forma Pro Forma
Growth Portfolio Fund
Fund 3 Adjustments Combined
<S> <C> <C> <C>
<C> <C>
Investment Income:
Dividends, interest,
and other $ 3,759 $ 2,613 $
1,228 $ - $ 7,600
Expenses:
Management and advisory fees 2,535 1,703
846 (140) 4,944
Distribution fees:
Class A 874 -
- - - 874
Class B 2 -
- - - 2
Class C 30 -
- - - 30
Transfer agent fees and expenses 861 397
151 (47) 1,362
Custody fees and expenses 85 58
42 (34) 151
Registration fees 76 21
16 (29) 84
Audit fees and expenses 14 11
12 (12) 25
Trustees fees and expenses 28 17
16 - 61
Other 146 48
25 (14) 205
4,651 2,255
1,108 (276) 7,738
Custodian earnings and
brokerage credits (72) (45)
(36) - (153)
Net expenses 4,579 2,210
1,072 (276) 7,585
Net investment income
(loss) (820) 403
156 276 15
Realized and unrealized gain on
investments and foreign currency:
Net realized gain on
investments and foreign
currency 37,989 24,141
13,206 - 75,336
Net unrealized appreciation
during the period on
investments and foreign
currency 11,079 8,519
3,286 - 22,884
Net gain on investments
and foreign currency 49,068 32,660
16,492 - 98,220
Net increase in net
assets resulting
from operations $ 48,248 $ 33,063 $
16,648 $ 276 98,235
</TABLE>
IDEX II Series Fund Growth Portfolio, IDEX Fund and IDEX
Fund 3
Notes to Pro Forma Combined Financial Statements
March 31, 1996 and September 30, 1995 (unaudited)
Basis of Presentation:
Subject to approval of the Agreement and Plan of
Reorganization and Liquidation
("Reorganization Agreement") by the shareholders of IDEX
Fund ("Fund") and IDEX
Fund 3 ("Fund 3"), the IDEX II Series Fund Growth
Portfolio, ("Growth"), a
series of IDEX II Series Fund, would acquire all the
assets and assume all of
the liabilities of Fund and Fund 3, in exchange for
shares of beneficial
interest of a newly issued class of shares of Growth
(Class T shares) at net
asset value as of the Closing Date as defined in the
Reorganization Agreement.
Shares of beneficial interest of Growth Class T would then
be distributed pro
rata to Fund and Fund 3 shareholders, and Fund and Fund 3
would be subsequently
liquidated. Effective upon the Closing Date, IDEX II Series
Fund will change its
name to IDEX Series Fund.
The pro forma combined financial statements reflect the
combined financial
position of Growth, Fund, and Fund 3, respectively, at
March 31, 1996 and
September 30, 1995, and the pro forma combined results of
operations of Growth,
Fund and Fund 3, respectively, for the period from October
1, 1995 to March 31,
1996 and October 1, 1994 to September 30, 1995, as though
the reorganization had
occurred on October 1, 1995 and October 1, 1994,
respectively. Pro forma
combined financial statements for both periods have been
prepared in order to
provide updated interim financial statement information
subsequent to the
September 30, 1995 fiscal year end of Growth (the surviving
Portfolio).
The pro forma combined financial statements are presented
for the information of
the reader and may not necessarily be representative
of how the pro forma
combined financial statements would have appeared had
the reorganization
actually occurred. The pro forma combined financial
statements should be read
with the historical financial statements of the respective
portfolios.
At March 31, 1996, the pro forma combined number of
shares of 24,095,271 for
Growth Class T consists of 16,245,898 shares of Growth
Class T attributed to
shareholders of Fund and 7,849,373 shares of Growth
Class T attributed to
shareholders of Fund 3.
At September 30, 1995, the pro forma combined number of
shares of 21,548,078 for
Growth Class T consists of 14,295,065 shares of Growth
Class T attributed to
shareholders of Fund and 7,253,013 shares of Growth
Class T attributed to
shareholders of Fund 3.
The assumed net asset values and related offering prices
per share for Growth
Class T shares at March 31, 1996 and September 30, 1995
have been determined
using the net asset values for Growth Class A shares
for those dates, and
adjusting for appropriate expense differentials
(principally 12b-1 distribution
fees).
Pro Forma Adjustments:
The pro forma combined Statements of Assets and
Liabilities reflect the
reclassification of capital for Fund and Fund 3
(Massachusetts business trusts)
into shares of beneficial interest of Growth (a
Massachusetts business trust).
Also, net assets and total liabilities reflect an
adjustment for $326,000 at
March 31, 1996 and September 30, 1995 representing estimated
non-recurring costs
to effect the reorganization including such items as legal,
accounting, federal
and state Blue Sky Fees and proxy costs.
It is assumed that the pro forma combined Statements of
Assets and Liabilities
would not be materially affected by the following
adjustments to the pro forma
combined Statements of Operations, as the effect on net
investment income would
be substantially offset by corresponding adjustments to
dividends paid by the
combined funds/portfolios.
IDEX II Series Fund Growth Portfolio, IDEX Fund and IDEX
Fund 3
Notes to Pro Forma Combined Financial Statements (continued)
March 31, 1996 and September 30, 1995 (unaudited)
The pro forma combined Statements of Operations for
Growth, Fund and Fund 3
reflect the following adjustments:
A decrease in management and advisory fees as combined
net assets would be
subject to Growth's management fee structure of 1.00% on
average net assets to
$750 million, 0.90% on the next $250 million and 0.85% on
the excess.
A decrease in transfer agent fees and expense related
to elimination of
estimated redundancy (like accounts that could be combined)
in the account base
of Fund and Fund 3.
A decrease in custody fees and expenses related to
investment security
transactions charges that would be eliminated for Fund and
Fund 3.
A decrease in Registration Fees comprised of a decrease in
state Blue Sky fees
since many states assess separately at the trust or
portfolio level (and thus
would be eliminated for Fund and Fund 3).
A net decrease in audit and tax return preparation fees as
requirements for work
on Fund and Fund 3 would be eliminated, offset by
increases related to Growth
being a larger portfolio once combined with Fund and Fund 3.
A decrease in other expenses composed of reduced
legal, prospectus and
shareholder report expenses associated with the elimination
of Fund and Fund 3.
<PAGE>
[IDEX LOGO]
PROXY SERVICES
P.O. BOX 9156
FARMINGDALE, NY 11735-9858
[SHAREHOLDER NAME, ADDRESS, TAX ID. OR SOCIAL SECURITY NO.]
IDEX FUND
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
OF IDEX FUND. THE
BOARD OF TRUSTEES OF IDEX FUND RECOMMENDS A VOTE FOR
THE PROPOSAL. THE
UNDERSIGNED HEREBY APPOINT(S) G. JOHN HURLEY AND BECKY A.
FERRELL, AND EACH OF
THEM, OR EITHER OF THEM IF ONLY ONE SHALL BE PRESENT, AS
ATTORNEYS AND PROXIES,
EACH WITH THE POWER TO APPOINT HIS SUBSTITUTE, AND HEREBY
AUTHORIZES THEM TO
REPRESENT AND TO VOTE, AS DESIGNATED BELOW, THE SHARES
OF IDEX FUND HELD OF
RECORD BY THE UNDERSIGNED ON JULY 18, 1996 AT THE
SPECIAL MEETING OF
SHAREHOLDERS OF IDEX FUND AND IDEX FUND 3 (EACH, A "FUND"
AND COLLECTIVELY, THE
"FUNDS") TO BE HELD JOINTLY ON SEPTEMBER 16, 1996 AT 10:00
A.M., LOCAL TIME, AT
201 HIGHLAND AVENUE, LARGO, FL 33770-2597 (THE
"MEETING"), AND AT ANY
ADJOURNMENTS THEREOF, WITH RESPECT TO THE MATTER SET FORTH
BELOW AND DESCRIBED
IN THE NOTICE OF SPECIAL MEETING AND PROSPECTUS/PROXY
STATEMENT DATED JULY 25,
1996, RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED WITH
DISCRETIONARY POWER TO VOTE
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE
THE MEETING AND ANY
ADJOURNMENT THEREOF.
THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE
MANNER DIRECTED HEREIN
BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE,
THIS PROXY WILL BE
VOTED "FOR" THE PROPOSAL. IF YOU HAVE ANY QUESTIONS WITH
REGARD TO THIS PROXY,
PLEASE CALL CUSTOMER SERVICE AT (800) 851-9777 BETWEEN
8:00 A.M. AND 7:00 P.M.
EASTERN TIME.
PLEASE INDICATE YOUR VOTING INSTRUCTIONS, DATE AND SIGN
EXACTLY AS YOUR NAME(S)
APPEARS ABOVE, AND RETURN IN THE ENVELOPE PROVIDED. WHEN
SIGNING AS ATTORNEY,
EXECUTOR, ADMINISTRATOR, GUARDIAN, TRUSTEE, CUSTODIAN,
ETC., PLEASE GIVE YOUR
FULL TITLE AS SUCH. IF A CORPORATION OR PARTNERSHIP,
PLEASE SIGN THE FULL NAME
OF AN AUTHORIZED OFFICER OR PARTNER. IF SHARES ARE OWNED
JOINTLY, ALL PARTIES
SHOULD SIGN. I ACKNOWLEDGE RECEIPT OF THE PROSPECTUS/PROXY
STATEMENT DATED JULY
25, 1996.
[SHAREHOLDER ACCOUNT NO., SHARES, CONTROL
NO.]
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
|X|
KEEP THIS PORTION FOR YOUR RECORDS
- ------------------------------------------------------------
- -------------------
DETACH AND RETURN THIS PORTION ONLY
IDEX FUND
[SIGNATURE(S) OF SHAREHOLDER(S)] [DATE]
APPROVAL OF A PROPOSED REORGANIZATION OF IDEX
FUND AND IDEX FUND 3
INTO THE GROWTH PORTFOLIO OF IDEX II SERIES FUND
IN ACCORDANCE WITH AN
AGREEMENT AND PLAN OF REORGANIZATION AND
LIQUIDATION ATTACHED AS
APPENDIX A TO THE PROSPECTUS/PROXY STATEMENT.
VOTE ON PROPOSAL
_ _
_
|_| FOR |_| AGN
|_| ABS
_
|_| CHECK THIS BOX IF YOU WILL ATTEND THE MEETING.
<PAGE>
[IDEX LOGO]
PROXY SERVICES
P.O. BOX 9156
FARMINGDALE, NY 11735-9858
[SHAREHOLDER NAME, ADDRESS, TAX ID. OR SOCIAL SECURITY NO.]
IDEX FUND 3
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES
OF IDEX FUND 3. THE
BOARD OF TRUSTEES OF IDEX FUND 3 RECOMMENDS A VOTE FOR
THE PROPOSAL. THE
UNDERSIGNED HEREBY APPOINT(S) G. JOHN HURLEY AND BECKY A.
FERRELL, AND EACH OF
THEM, OR EITHER OF THEM IF ONLY ONE SHALL BE PRESENT, AS
ATTORNEYS AND PROXIES,
EACH WITH THE POWER TO APPOINT HIS SUBSTITUTE, AND HEREBY
AUTHORIZES THEM TO
REPRESENT AND TO VOTE, AS DESIGNATED BELOW, THE SHARES OF
IDEX FUND 3 HELD OF
RECORD BY THE UNDERSIGNED ON JULY 18, 1996 AT THE
SPECIAL MEETING OF
SHAREHOLDERS OF IDEX FUND AND IDEX FUND 3 (EACH, A "FUND"
AND COLLECTIVELY, THE
"FUNDS") TO BE HELD JOINTLY ON SEPTEMBER 16, 1996 AT 10:00
A.M., LOCAL TIME, AT
201 HIGHLAND AVENUE, LARGO, FL 33770-2597 (THE
"MEETING"), AND AT ANY
ADJOURNMENTS THEREOF, WITH RESPECT TO THE MATTER SET FORTH
BELOW AND DESCRIBED
IN THE NOTICE OF SPECIAL MEETING AND PROSPECTUS/PROXY
STATEMENT DATED JULY 25,
1996, RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED WITH
DISCRETIONARY POWER TO VOTE
UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE
THE MEETING AND ANY
ADJOURNMENT THEREOF.
THIS PROXY, WHEN PROPERLY EXECUTED, WILL BE VOTED IN THE
MANNER DIRECTED HEREIN
BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE,
THIS PROXY WILL BE
VOTED "FOR" THE PROPOSAL. IF YOU HAVE ANY QUESTIONS WITH
REGARD TO THIS PROXY,
PLEASE CALL CUSTOMER SERVICE AT (800) 851-9777 BETWEEN
8:00 A.M. AND 7:00 P.M.
EASTERN TIME.
PLEASE INDICATE YOUR VOTING INSTRUCTIONS, DATE AND SIGN
EXACTLY AS YOUR NAME(S)
APPEARS ABOVE, AND RETURN IN THE ENVELOPE PROVIDED. WHEN
SIGNING AS ATTORNEY,
EXECUTOR, ADMINISTRATOR, GUARDIAN, TRUSTEE, CUSTODIAN,
ETC., PLEASE GIVE YOUR
FULL TITLE AS SUCH. IF A CORPORATION OR PARTNERSHIP,
PLEASE SIGN THE FULL NAME
OF AN AUTHORIZED OFFICER OR PARTNER. IF SHARES ARE OWNED
JOINTLY, ALL PARTIES
SHOULD SIGN. I ACKNOWLEDGE RECEIPT OF THE PROSPECTUS/PROXY
STATEMENT DATED JULY
25, 1996.
[SHAREHOLDER ACCOUNT NO., SHARES, CONTROL
NO.]
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
|X|
KEEP THIS PORTION FOR YOUR RECORDS
- ------------------------------------------------------------
- -------------------
DETACH AND RETURN THIS PORTION ONLY
IDEX FUND 3
[SIGNATURE(S) OF SHAREHOLDER(S)] [DATE]
APPROVAL OF A PROPOSED REORGANIZATION OF IDEX
FUND AND IDEX FUND 3
INTO THE GROWTH PORTFOLIO OF IDEX II SERIES FUND
IN ACCORDANCE WITH AN
AGREEMENT AND PLAN OF REORGANIZATION AND
LIQUIDATION ATTACHED AS
APPENDIX A TO THE PROSPECTUS/PROXY STATEMENT.
VOTE ON PROPOSAL
_ _
_
|_| FOR |_| AGN
|_| ABS
_
|_| CHECK THIS BOX IF YOU WILL ATTEND THE MEETING.
