IDEX SERIES FUND
AGGRESSIVE GROWTH PORTFOLIO
FLEXIBLE INCOME PORTFOLIO
SUPPLEMENT DATED MAY 22, 1998
TO PROSPECTUS DATED MARCH 1, 1998
PLEASE READ THIS SUPPLEMENT CAREFULLY AND RETAIN IT FOR FUTURE REFERENCE.
The following paragraph replaces the first paragraph on page 54 under the
section "INVESTMENT ADVISORY AND OTHER SERVICES - AGGRESSIVE GROWTH PORTFOLIO -
PORTFOLIO MANAGERS" in its entirety:
David D. Alger and David Hyun are primarily responsible for the day-to-day
management of the Portfolio. Mr. Alger has been employed by Alger
Management as Executive Vice President and Director of Research since 1971
and as President since 1995 and has served as a portfolio manager of the
Aggressive Growth Portfolio since its inception in December, 1994. Mr. Hyun
has been employed by Alger Management as a senior research analyst since
1991 and as a portfolio manager since 1997. Mr. Hyun has served as
Co-Portfolio Manager of the Aggressive Growth Portfolio since February
1998.
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The following paragraph replaces paragraphs three and four on page 55 under
the section "INVESTMENT ADVISORY AND OTHER SERVICES - CAPITAL APPRECIATION,
GLOBAL, GROWTH, BALANCED AND FLEXIBLE INCOME PORTFOLIOS PORTFOLIO MANAGERS" in
their entirety:
Ronald V. Speaker has served as a portfolio manager of the Flexible Income
Portfolio since October 1993, and served as portfolio manager of the
Flexible Income Portfolio's predecessor, IDEX Total Income Trust, since
February 1992. Mr. Speaker is also an Executive Vice President of Janus
Investment Fund and Janus Aspen Series; he joined Janus Capital as a
securities analyst and research associate in 1986. On January 13, 1997, Mr.
Speaker, settled an SEC administrative action involving two personal trades
that he made in January of 1993. Without admitting or denying the
allegations, Mr. Speaker agreed to civil monetary penalty, disgorgement and
interest payments totaling $37,199, and to a 90-day suspension starting on
or about January 29, 1997.
