[IDEX MUTUAL FUNDS LOGO]
IDEX MUTUAL FUNDS
IDEX C.A.S.E. GROWTH
SUPPLEMENT DATED SEPTEMBER 25, 2000 TO PROSPECTUS DATED SEPTEMBER 1, 2000
Please retain this supplement for reference.
At a meeting of the Board of Trustees (the "Board") of IDEX Mutual Funds on
September 11, 2000, the Board was notified that C.A.S.E Management, Inc.
(C.A.S.E.), sub-adviser of IDEX C.A.S.E. Growth (the "Fund"), will no longer
serve as sub-adviser to the Fund effective December 1, 2000. As a result,
effective December 1, 2000, C.A.S.E. will terminate the Investment Counsel
(Sub-Advisory) Agreement dated November 15, 1995, as amended, between Idex
Management, Inc. and C.A.S.E. and C.A.S.E. will no longer provide investment
management services to the Fund.
The Board has selected Jennison Associates, LLC ("Jennison") to replace C.A.S.E.
as sub-adviser to the Fund effective December 1, 2000, subject to approval by
the Fund's shareholders. The Board also approved September 12, 2000 as the
record date and November 29, 2000 as the date for the meeting of shareholders of
the Fund to consider the transfer of C.A.S.E.'s investment management
responsibilities to Jennison 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.
Subject to shareholder approval of the Proposal described above, effective
December 1, 2000 the Fund will be renamed. If shareholders approve the Proposal,
effective December 1, 2000 the investment objective of the Fund will also be
changed to "seeks long-term growth of capital."
If you were a shareholder prior to the date of this supplement and you consider
the revised objective to be different from what you deemed appropriate at the
time of investment, you may redeem or exchange your shares without incurring a
redemption or exchange fee if you do so by December 31, 2000. However, should
you decide to redeem Fund shares because of the change of objective, you may
realize a taxable gain or loss.
