IDEX SERIES FUND
FLEXIBLE INCOME PORTFOLIO
SUPPLEMENT DATED JANUARY 16, 1997
TO PROSPECTUS DATED SEPTEMBER 20, 1996
AS PREVIOUSLY SUPPLEMENTED DECEMBER 20, 1996
PLEASE READ THIS SUPPLEMENT CAREFULLY AND RETAIN IT FOR FUTURE REFERENCE.
On January 13, 1997, Ronald V. Speaker, portfolio manager of the IDEX
Series Fund Flexible Income Portfolio (the "Portfolio"), settled an
administrative action with the Securities and Exchange Commission involving two
personal trades that he made in January of 1993. Without admitting or denying
the allegations, Mr. Speaker has agreed to civil money penalty, disgorgement and
interest payments totaling $37,199, and to a 90-day suspension starting on or
about January 27, 1997.
Sandy R. Rufenacht has been appointed co-manager of the Portfolio and will
solely manage the Portfolio during Mr. Speaker's absence. Mr. Rufenacht joined
Janus Capital Corporation in 1990 and gained experience as a trader and research
analyst before assuming management responsibilities. He holds a Bachelor of Arts
in Business from the University of Northern Colorado. Mr. Rufenacht is also an
Executive Vice President of Janus Investment Fund and serves as portfolio
manager or co-manager of other mutual funds.
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