IDEX MUTUAL FUNDS
IDEX GE/SCOTTISH EQUITABLE INTERNATIONAL EQUITY
SUPPLEMENT DATED SEPTEMBER 20, 1999 TO PROSPECTUS DATED MARCH 1, 1999
Please retain this supplement for reference.
At a meeting of the Board of Trustees (the "Board") of IDEX Mutual Funds on
September 13, 1999, the Board was notified that Scottish Equitable Investment
Management Limited ("SEIM"), a sub-adviser of IDEX GE/Scottish Equitable
International Equity (the "Fund"), is in the process of discontinuing certain of
its operations in the United States. As a result, effective March 1, 2000 SEIM
will terminate the Investment Counsel Agreement dated February 1, 1997 between
Idex Management, Inc. and SEIM and will no longer provide investment management
services to the Fund.
Currently, cash that flows into the Fund for investment is divided equally
between SEIM and GE Investment Management Incorporated ("GEIM"), the Fund's
other sub-adviser, and they manage their respective portfolios separately. The
Board was also notified that GEIM is willing to assume SEIM's investment
management responsibilities for the Fund and become the sub-adviser with respect
to all of the Fund's assets.
In this connection, the Board approved a transfer, effective March 1, 2000, of
SEIM's investment management responsibilities for the Fund to GEIM, subject to
approval by the Fund's shareholders. The Board also approved November 30, 1999
as the record date and February 8, 2000 as the date for the meeting of
shareholders of the Fund to consider the transfer of SEIM's investment
management responsibilities to GEIM with no change in the overall investment
management fees paid by the Fund (the "Proposal"). There is no assurance that
the Fund's shareholders will approve the Proposal.
