IDEX SERIES FUND
SUPPLEMENT DATED JULY 16, 1997
TO PROSPECTUS DATED FEBRUARY 1, 1997
AS PREVIOUSLY SUPPLEMENTED APRIL 21 AND FEBRUARY 28, 1997
PLEASE READ THIS SUPPLEMENT CAREFULLY AND RETAIN IT FOR FUTURE REFERENCE.
The following supplements "Financial Highlights" in the current Prospectus:
The per share information contained in the table below for each class of shares
for the fiscal period ended April 30, 1997 is unaudited. Further information
about performance of the Fund Portfolios is contained in the Fund's Semi-Annual
Report to shareholders, which you may also obtain without charge by calling or
writing to the Fund.
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS
PERIOD ENDED APRIL 30, 1997
AGGRESSIVE GROWTH INTERNATIONAL EQUITY (1)
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $15.70 $15.58 $15.60 $10.00 $10.00 $10.00
NET INVESTMENT INCOME (LOSS) $(0.07) $(0.10) $(0.10) $0.01 - -
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $0.71 $0.71 $0.71 $0.25 $0.25 $0.25
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $0.64 $0.61 $0.61 $0.26 $0.25 $0.25
DIVIDENDS FROM NET INVESTMENT INCOME - - - - - -
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS $(0.67) $(0.67) $(0.67) - - -
TOTAL DISTRIBUTIONS $(0.67) $(0.67) $(0.67) - - -
NET ASSET VALUE AT END OF PERIOD $15.67 $15.52 $15.54 $10.26 $10.25 $10.25
TOTAL RETURN (2) 4.13% 3.97% 3.96% 2.61% 2.51% 2.51%
NET ASSETS AT END OF PERIOD (000'S) $23,670 $3,063 $2,524 $1,360 $126 $28
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.85% 2.50% 2.40% 1.70% 2.35% 2.25%
INCLUDING CREDITS 1.85% 2.50% 2.40% 1.70% 2.35% 2.25%
GROSS 2.54% 3.19% 3.09% 5.20% 5.85% 5.75%
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS(4) (0.53)% (0.85)% (0.81)% 1.14% 0.48% 0.59%
PORTFOLIO TURNOVER RATE (5) 57.50% 57.50% 57.50% 5.35% 5.35% 5.35%
AVERAGE COMMISSION RATE (6) $0.0720 $0.0720 $0.0720 $0.0355 $0.0355 $0.0355
</TABLE>
See Notes to Financial Highlights on Page 3
Page 1 of 3
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS
PERIOD ENDED APRIL 30, 1997
CAPITAL APPRECIATION GLOBAL
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $15.49 $15.42 $15.43 $21.39 $21.13 $21.03
NET INVESTMENT INCOME (LOSS) $(0.09) $(0.13) $(0.13) $0.11 $0.05 $0.06
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $(2.04) $(2.04) $(2.04) $1.92 $1.92 $1.92
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $(2.13) $(2.17) $(2.17) $2.03 $1.97 $1.98
DIVIDENDS FROM NET INVESTMENT INCOME - - - - - -
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS $(0.21) $(0.21) $(0.21) $(2.10) $(2.10) $(2.10)
TOTAL DISTRIBUTIONS $(0.21) $(0.21) $(0.21) $(2.10) $(2.10) $(2.10)
NET ASSET VALUE AT END OF PERIOD $13.15 $13.04 $13.05 $21.32 $21.00 $20.91
TOTAL RETURN (2) (13.87)% (14.19)% (14.18)% 10.18% 10.12% 10.17%
NET ASSETS AT END OF PERIOD (000'S) $17,286 $2,270 $1,730 $177,191 $18,667 $14,632
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.85% 2.50% 2.40% 1.98% 2.63% 2.53%
INCLUDING CREDITS 1.85% 2.50% 2.40% 1.98% 2.63% 2.53%
GROSS 2.54% 3.19% 3.09% - - -
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS(4) (0.67)% (0.99)% (0.94)% (0.35)% (0.67)% (0.62)%
PORTFOLIO TURNOVER RATE (5) 51.55% 51.55% 51.55% 36.33% 36.33% 36.33%
AVERAGE COMMISSION RATE (6) $0.0461 $0.0461 $0.0461 $0.0469 $0.0469 $0.0469
</TABLE>
See Notes to Financial Highlights on Page 3
Page 1 of 3
<PAGE>
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS
PERIOD ENDED APRIL 30, 1997
GROWTH
CLASS A CLASS B CLASS C CLASS T
<S> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $21.97 $21.60 $21.65 $22.17
NET INVESTMENT INCOME (LOSS) $0.01 $(0.05) $(0.03) $0.05
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $0.50 $0.50 $0.50 $0.50
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $0.51 $0.45 $0.47 $0.55
DIVIDENDS FROM NET INVESTMENT INCOME - - - -
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS $(0.47) $(0.47) $(0.47) $(0.47)
TOTAL DISTRIBUTIONS $(0.47) $(0.47) $(0.47) $(0.47)
NET ASSET VALUE AT END OF PERIOD $22.01 $21.58 $21.65 $22.25
TOTAL RETURN (2) 2.31% 2.07% 2.15% 2.42%
NET ASSETS AT END OF PERIOD (000'S) $563,317 $8,724 $13,089 $561,475
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.65% 2.30% 2.20% 1.30%
INCLUDING CREDITS 1.65% 2.30% 2.20% 1.30%
GROSS - - - -
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS(4) 0.07% (0.25)% (0.20)% (0.64)%
PORTFOLIO TURNOVER RATE (5) 46.57% 46.57% 46.57% 46.57%
AVERAGE COMMISSION RATE (6) $0.0418 $0.0418 $0.0418 $0.0418
</TABLE>
See Notes to Financial Highlights on Page 3
Page 1 of 3
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS (CONTINUED)
PERIOD ENDED APRIL 30, 1997
C.A.S.E. VALUE EQUITY (1)
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $10.56 $10.51 $10.52 $10.00 $10.00 $10.00
NET INVESTMENT INCOME (LOSS) $1.33 $1.30 $1.30 $0.01 - -
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $(0.80) $(0.80) $(0.80) $0.11 $0.11 $0.11
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $0.53 $0.50 $0.50 $0.12 $0.11 $0.11
DIVIDENDS FROM NET INVESTMENT INCOME $(0.51) $(0.45) $(0.46) - - -
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS - - - - - -
TOTAL DISTRIBUTIONS $(0.51) $(0.45) $(0.46) - - -
NET ASSET VALUE AT END OF PERIOD $10.58 $10.56 $10.56 $10.12 $10.11 $10.11
TOTAL RETURN (2) 5.25% 4.98% 4.97% 1.23% 1.13% 1.13%
NET ASSETS AT END OF PERIOD (000'S) $2,177 $1,498 $1,028 $2,300 $1,171 $496
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.85% 2.50% 2.40% 1.50% 2.15% 2.05%
INCLUDING CREDITS 1.85% 2.50% 2.40% 1.50% 2.15% 2.05%
GROSS 5.15% 5.80% 5.70% 4.81% 5.46% 5.36%
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS (4) (0.07)% (0.40)% (0.35)% 0.20% 0.05% 0.07%
PORTFOLIO TURNOVER RATE (5) 67.81% 67.81% 67.81% 0.98% 0.98% 0.98%
AVERAGE COMMISSION RATE (6) $0.0602 $0.0602 $0.0602 $0.0688 $0.0688 $0.0688
</TABLE>
See Notes to Financial Highlights on Page 3
Page 2 of 3
<PAGE>
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS (CONTINUED)
PERIOD ENDED APRIL 30, 1997
STRATEGIC TOTAL RETURN TACTICAL ASSET ALLOCATION
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $13.43 $13.42 $13.42 $11.19 $11.18 $11.18
NET INVESTMENT INCOME (LOSS) $0.30 $0.26 $0.26 $0.26 $0.22 $0.23
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $0.76 $0.76 $0.76 $0.50 $0.50 $0.50
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $1.06 $1.02 $1.02 $0.76 $0.72 $0.73
DIVIDENDS FROM NET INVESTMENT INCOME $(0.10) $(0.06) $(0.06) $(0.08) $(0.04) $(0.05)
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS $(0.32) $(0.32) $(0.32) $(0.04) $(0.04) $(0.04)
TOTAL DISTRIBUTIONS $(0.42) $(0.38) $(0.38) $(0.12) $(0.08) $(0.09)
NET ASSET VALUE AT END OF PERIOD $14.07 $14.06 $14.06 $11.83 $11.82 $11.82
TOTAL RETURN (2) 8.02% 7.67% 7.72% 6.81% 6.47% 6.52%
NET ASSETS AT END OF PERIOD (000'S) $15,576 $2,593 $2,487 $10,802 $7,288 $3,789
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.85% 2.50% 2.40% 1.85% 2.50% 2.40%
INCLUDING CREDITS 1.85% 2.50% 2.40% 1.85% 2.50% 2.40%
GROSS 2.44% 3.08% 2.99% 2.32% 2.97% 2.87%
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS (4) 0.65% 0.33% 0.38% 0.79% 0.46% 0.51%
PORTFOLIO TURNOVER RATE (5) 27.86% 27.86% 27.86% 41.49% 41.49% 41.49%
AVERAGE COMMISSION RATE (6) $0.0593 $0.0593 $0.0593 $0.0830 $0.0830 $0.0830
</TABLE>
See Notes to Financial Highlights on Page 3
Page 2 of 3
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS (CONTINUED)
PERIOD ENDED APRIL 30, 1997
BALANCED FLEXIBLE INCOME
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $13.58 $13.56 $13.57 $9.33 $9.32 $9.32
NET INVESTMENT INCOME (LOSS) $0.34 $0.30 $0.30 $1.13 $1.11 $1.11
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $0.39 $0.39 $0.39 $(0.89) $(0.89) $(0.89)
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $0.73 $0.69 $0.69 $0.24 $0.22 $0.22
DIVIDENDS FROM NET INVESTMENT INCOME $(0.11) $(0.06) $(0.07) $(0.30) $(0.27) $(0.27)
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS $(1.75) $(1.75) $(1.75) - - -
TOTAL DISTRIBUTIONS $(1.86) $(1.81) $(1.82) $(0.30) $(0.27) $(0.27)
NET ASSET VALUE AT END OF PERIOD $12.45 $12.44 $12.44 $9.27 $9.27 $9.27
TOTAL RETURN (2) 5.89% 5.55% 5.60% 2.61% 2.37% 2.42%
NET ASSETS AT END OF PERIOD (000'S) $9,963 $1,745 $1,089 $15,458 $620 $828
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.85% 2.50% 2.40% 1.85% 2.50% 2.40%
INCLUDING CREDITS 1.85% 2.50% 2.40% 1.85% 2.50% 2.40%
GROSS 3.00% 3.65% 3.55% 2.22% 2.87% 2.77%
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS (4) 0.84% 0.52% 0.57% 3.20% 2.88% 2.93%
PORTFOLIO TURNOVER RATE (5) 56.19% 56.19% 56.19% 74.69% 74.69% 74.69%
AVERAGE COMMISSION RATE (6) $0.0466 $0.0466 $0.0466 - - -
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS (CONTINUED)
PERIOD ENDED APRIL 30, 1997
INCOME PLUS TAX-EXEMPT
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
<S> <C> <C> <C> <C> <C> <C>
NET ASSET VALUE BEGINNING OF PERIOD $10.61 $10.61 $10.61 $11.40 $11.40 $11.40
NET INVESTMENT INCOME (LOSS) $1.49 $1.46 $1.46 $1.00 $0.96 $0.98
NET REALIZED AND UNREALIZED GAIN (LOSS) ON $(1.20) $(1.20) $(1.20) $(0.77) $(0.77) $(0.77)
INVESTMENT
TOTAL INCOME (LOSS) FROM INVESTMENT INCOME $0.29 $0.26 $0.26 $0.23 $0.19 $0.21
DIVIDENDS FROM NET INVESTMENT INCOME $(0.39) $(0.36) $(0.36) $(0.26) $(0.23) $(0.25)
DISTRIBUTIONS FROM NET REALIZED CAPITAL GAINS $(0.10) $(0.10) $(0.10) $(0.08) $(0.08) $(0.08)
TOTAL DISTRIBUTIONS $(0.49) $(0.46) $(0.46) $(0.34) $(0.31) $(0.33)
NET ASSET VALUE AT END OF PERIOD $10.41 $10.41 $10.41 $11.29 $11.28 $11.28
TOTAL RETURN (2) 2.68% 2.39% 2.43% 2.05% 1.62% 1.80%
NET ASSETS AT END OF PERIOD (000'S) $63,740 $1,234 $2,523 $23,400 $260 $622
RATIO OF EXPENSES TO AVERAGE NET ASSETS (3)(4)
EXCLUDING CREDITS 1.27% 1.92% 1.82% 1.00% 1.65% 1.25%
INCLUDING CREDITS 1.27% 1.92% 1.82% 1.00% 1.65% 1.25%
GROSS - - - 1.49% 2.14% 1.74%
RATIO OF NET INCOME (LOSS) TO AVERAGE NET ASSETS (4) 3.66% 3.34% 3.39% 2.32% 2.00% 2.19%
PORTFOLIO TURNOVER RATE (5) 27.60% 27.60% 27.60% 27.73% 27.73% 27.73%
AVERAGE COMMISSION RATE (6) - - - - - -
</TABLE>
(1) From commencement of operations, February 3, 1997.
(2) Total return has been calculated for the applicable period without
deduction of a sales load, if any, on an initial purchase for Class A or
Class T Shares. Ratios for the period ended April 30, 1997 are not
annualized.
(3) Ratio of Expenses to Average Net Assets shows: Expenses Excluding Credits
(total expenses less amounts waived/reimbursed by the investment adviser);
Expenses Including Credits (total expenses less amounts waived/reimbursed
by the investment adviser and reduced by affiliated brokerage and custody
earnings credits); and Gross Expenses (total expenses, not taking into
account waived/reimbursed amounts by the investment adviser or affiliated
brokerage and custody earnings credits).
(4) Ratios for the period ended April 30, 1997 are annualized.
(5) This rate is calculated by dividing the lesser of a Portfolio's respective
long-term purchases or sales by the average value of its long-term
investments during the period. Ratios for the period ended April 30, 1997
are not annualized.
(6) This rate is calculated by dividing total commissions paid on purchases and
sales of securities during the period by total shares purchased or sold in
those same transactions and is reported to the extent that commissionable
trades constitute more than 10% of average net assets for the period.
Page 3 of 3
<PAGE>
IDEX SERIES FUND
SUPPLEMENT DATED JULY 16, 1997
TO STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1997
AS PREVIOUSLY SUPPLEMENTED APRIL 21, 1997
PLEASE READ THIS SUPPLEMENT CAREFULLY AND RETAIN IT FOR FUTURE REFERENCE.
The following information supplements the section "Financial Statements":
Unaudited Financial Statements of IDEX Series Fund (the "Fund") for the period
ended April 30, 1997 are incorporated by reference from the Fund's Semi-Annual
Report dated April 30, 1997.
* * * * * * * * * *
The Non-Fundamental Investment Restrictions of the Aggressive Growth,
Capital Appreciation and Balanced, Growth and Flexible Income, C.A.S.E., and
Value Equity Portfolios relating to investments in securities of other
investment companies are replaced in their entirety as follows:
The Portfolio may not (i) purchase securities of other investment
companies, except in the open market where no commission except the
ordinary broker's commission is paid, or (ii) purchase or retain securities
issued by other open-end investment companies. Limitations (i) and (ii) do
not apply to money market funds or to securities received as dividends,
through offers of exchange, or as a result of consolidation, merger or
other reorganization.
The Non-Fundamental Investment Restriction of the International Equity
Portfolio relating to investments in securities of other investment companies is
replaced in its entirety as follows:
The Portfolio may not (i) purchase securities of other investment
companies, except in the open market where no commission except the
ordinary broker's commission is paid, or (ii) purchase or retain securities
issued by other open-end investment companies. Limitations (i) and (ii) do
not apply to money market funds or to securities received as dividends,
through offers of exchange, or as a result of consolidation, merger or
other reorganization. The Portfolio may also invest in the GEI Short-Term
Investment Fund, an investment fund advised by GE Investment Management
Incorporated ("GEIM"), created specifically to serve as a vehicle for the
collective investment of cash balances of the Portfolio and other accounts
advised by GEIM or General Electric Investment Corporation. Investments in
GEI Short-Term Investment Fund are not considered investments in another
investment company for the purposes of this restriction.
