IDEX SERIES FUND
SUPPLEMENT DATED JUNE 25, 1998
TO STATEMENT OF ADDITIONAL INFORMATION DATED MARCH 1, 1998
THE FOLLOWING SENTENCE REPLACES THE THIRD SENTENCE IN THE FIRST PARAGRAPH UNDER
THE HEADING "HIGH-YIELD/HIGH-RISK BONDS" ON PAGE 30 OF THE STATEMENT OF
ADDITIONAL INFORMATION ("SAI"):
None of the Portfolios, other than the Balanced, Value Equity, Strategic Total
Return, Flexible Income and Income Plus Portfolios, may invest more than 5% of
its net assets in junk bonds.
THE FOLLOWING INFORMATION SUPPLEMENTS THE INFORMATION ON PAGES 35 AND 36 OF THE
SAI UNDER THE HEADING "ADDITIONAL INVESTMENT ADVISORY OR SUB-ADVISORY SERVICES
PROVIDED BY THE SUB-ADVISERS":
Delete the first and second paragraphs, and Table 1 on page 35.
Delete Table 2 and paragraphs one, three and four on page 36; insert the
following paragraph immediately preceding the second paragraph on page 36:
Pursuant to the terms of a Stock Purchase Agreement between AUSA Holding Company
("AUSA") and Janus Capital, AUSA became the sole shareholder of IMI on June 25,
1998. IMI is now a direct wholly-owned subsidiary of AUSA. AUSA is wholly-owned
by AEGON USA, Inc., a financial services holding company located at 4333
Edgewood Road, N.E., Cedar Rapids, Iowa 52499. AEGON USA, Inc. is a wholly-owned
indirect subsidiary of AEGON nv, a Netherlands corporation and publicly traded
international insurance group.
In anticipation of the transaction between AUSA and Janus Capital, a new
Management and Investment Advisory Agreement between the Fund and IMI, and a new
Investment Counsel Agreement between IMI and Janus Capital on behalf of the
Capital Appreciation, Global, Growth, Balanced and Flexible Income Portfolios,
were approved by the Fund's Board of Trustees with respect to each Portfolio. A
special meeting of shareholders of the Portfolios was held on June 10, 1998, at
which time the shareholders of each Portfolio approved the new Agreements. The
new Agreements went into effect June 25, 1998. Under the terms of the new
Agreements, IMI and Janus Capital will continue to serve as the investment
adviser and investment sub-adviser, respectively, to each of the Portfolios.
Also, as a result of the transaction, Thomas H. Bailey and Steven Goodbarn have
resigned as Directors of IMI.
