<PAGE> PAGE 1
000 B000000 10/31/95
000 C000000 0000810477
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 IDEX FUND 3
001 B000000 811-5000
001 C000000 8135856565
002 A000000 201 HIGHLAND AVENUE
002 B000000 LARGO
002 C000000 FL
002 D010000 34640
003 000000 N
004 000000 N
005 000000 N
006 000000 N
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007 C020100 IDEX FUND 3
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007 C010400 4
007 C010500 5
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007 C010700 7
007 C010800 8
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007 C011000 10
014 A00AA01 FIDUCIARY FINANCIAL SERVICES, INC.
014 B00AA01 8-13594
014 A00AA02 FRED ALGER COMPANY, INC.
014 B00AA02 8-15900
014 A00AA03 ZAHORIK, INC.
014 B00AA03 8-17285
014 A00AA04 DIVERSIFIED INVESTORS SECURITIES CORPORATION
014 B00AA04 8-45671
014 A00AA05 FEDERATED SECURITIES, INC.
014 B00AA05 8-15561
020 A000001 INSTINET
020 B000001 13-2657032
020 C000001 29
020 A000002 ROBERTSON STEPHENSON
020 B000002 58-1472560
020 C000002 26
020 A000003 MONTGOMERY SECURITIES
<PAGE> PAGE 2
020 B000003 94-1701676
020 C000003 22
020 A000004 NATWEST SECURITIES
020 B000004 13-3312778
020 C000004 20
020 A000005 MORGAN STANLEY
020 B000005 13-2655998
020 C000005 18
020 A000006 GOLDMAN SACHS
020 B000006 13-5108880
020 C000006 15
020 A000007 SMITH BARNEY
020 B000007 13-1912900
020 C000007 13
020 A000008 PAINE WEBBER
020 B000008 13-2638166
020 C000008 11
020 A000009 ALEX BROWN AND SONS
020 B000009 52-1319761
020 C000009 11
020 A000010 SALOMON BROTHERS
020 B000010 13-3082694
020 C000010 11
021 000000 313
022 A000001 GENERAL ELECTRIC CAPITAL CORP
022 B000001 13-1500700
022 C000001 886432
022 D000001 2000
022 A000002 FORD MOTOR CREDIT CORP
022 B000002 38-1612444
022 C000002 297609
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022 C000004 56017
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022 C000005 55348
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022 C000006 44011
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<PAGE> PAGE 3
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022 C000008 43288
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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SIGNATURE THOMAS R. MORIARTY
TITLE SENIOR V. PRESIDENT
TO THE TRUSTEES OF IDEX FUND 3
IN PLANNING AND PERFORMING OUR AUDIT OF THE FINANCIAL STATEMENTS OF IDEX
FUND 3 (THE "FUND") FOR THE YEAR ENDED OCTOBER 31, 1995, WE
CONSIDERED ITS INTERNAL CONTROL STRUCTURE, INCLUDING PROCEDURES FOR
SAFEGUARDING SECURITIES, IN ORDER TO DETERMINE OUR AUDITING PROCEDURES
FOR THE PURPOSE OF EXPRESSING OUR OPINION ON THE FINANCIAL STATEMENTS
AND TO COMPLY WITH THE REQUIREMENTS OF FORM N-SAR, AND NOT TO PROVIDE
ASSURANCE ON THE INTERNAL CONTROL STRUCTURE.
THE MANAGEMENT OF THE FUND IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING AN
INTERNAL CONTROL STRUCTURE. IN FULFILLING THIS RESPONSIBILITY, ESTIMATES AND
JUDGEMENTS BY MANAGEMENT ARE REQUIRED TO ASSESS THE EXPECTED BENEFITS AND
RELATED COSTS OF INTERNAL CONTROL STRUCTURE POLICIES AND PROCEDURES. TWO OF
THE OBJECTIVES OF AN INTERNAL CONTROL STRUCTURE ARE TO PROVIDE MANAGEMENT WITH
REASONABLE, BUT NOT ABSOLUTE, ASSURANCE THAT ASSETS ARE APPROPRIATELY
SAFEGUARDED AGAINST LOSS FROM UNAUTHORIZED USE OR DISPOSITION AND THAT
TRANSACTIONS ARE EXECUTED IN ACCORDANCE WITH MANAGEMENT'S AUTHORIZATION AND
RECORDED PROPERLY TO PERMIT PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY
WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.
BECAUSE OF INHERENT LIMITATIONS IN ANY INTERNAL CONTROL STRUCTURE, ERRORS OR
IRREGULARITIES MAY OCCUR AND MAY NOT BE DETECTED. ALSO, PROJECTION OF ANY
EVALUATION OF THE STRUCTURE TO FUTURE PERIODS IS SUBJECT TO THE RISK THAT IT
MAY BECOME INADEQUATE BECAUSE OF CHANGES IN CONDITIONS OR THAT THE
EFFECTIVENESS OF THE DESIGN AND OPERATION MAY DETERIORATE.
OUR CONSIDERATION OF THE INTERNAL CONTROL STRUCTURE WOULD NOT NECESSARILY
DISCLOSE ALL MATTERS IN THE INTERNAL CONTROL STRUCTURE THAT MIGHT BE MATERIAL
WEAKNESSES UNDER STANDARDS ESTABLISHED BY THE AMERICAN INSTITUTE OF CERTIFIED
PUBLIC ACCOUNTANTS. A MATERIAL WEAKNESS IS A CONDITION IN WHICH THE DESIGN OR
OPERATION OF THE SPECIFIC INTERNAL CONTROL STRUCTURE ELEMENTS DOES NOT REDUCE
TO A RELATIVELY LOW LEVEL THE RISK THAT ERRORS OR IRREGULARITIES IN AMOUNTS
THAT WOULD BE MATERIAL IN RELATION TO THE FINANCIAL STATEMENTS BEING AUDITED
MAY OCCUR AND NOT BE DETECTED WITHIN A TIMELY PERIOD BY EMPLOYEES IN THE NORMAL
COURSE OF PERFORMING THEIR ASSIGNED FUNCTIONS.
HOWEVER, WE NOTED NO MATTERS INVOLVING THE INTERNAL STRUCTURE, INCLUDING
PROCEDURES FOR SAFEGUARDING SECURITIES, THAT WE CONSIDER TO BE MATERIAL
WEAKNESSES AS DEFINED ABOVE AS OF OCTOBER 31, 1995.
THIS REPORT IS INTENDED SOLELY FOR THE INFORMATION AND USE OF MANAGEMENT AND
THE SECURITIES AND EXCHANGE COMMISSION.
PRICE WATERHOUSE LLP
KANSAS CITY, MISSOURI
DECEMBER 13, 1995
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY INFORMATION EXTRACTED FROM THE FINANCIAL
STATEMENTS OF IDEX FUND 3 FOR THE PERIOD ENDED OCTOBER 31, 1995, AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-START> NOV-01-1994
<PERIOD-END> OCT-31-1995
<INVESTMENTS-AT-COST> 123,627
<INVESTMENTS-AT-VALUE> 167,201
<RECEIVABLES> 1,004
<ASSETS-OTHER> 1,578
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 169,783
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<OTHER-ITEMS-LIABILITIES> 215
<TOTAL-LIABILITIES> 2,797
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<SHARES-COMMON-PRIOR> 10,172
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 31,211
<OVERDISTRIBUTION-GAINS> 0
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<DIVIDEND-INCOME> 1,139
<INTEREST-INCOME> 965
<OTHER-INCOME> 0
<EXPENSES-NET> 1,950
<NET-INVESTMENT-INCOME> 154
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 606
<DISTRIBUTIONS-OF-GAINS> 1,463
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<PER-SHARE-NAV-BEGIN> 15.11
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 5.12
<PER-SHARE-DIVIDEND> 0.07
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<PER-SHARE-NAV-END> 20.03
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
