AETNA SERIES FUND, INC.
October 13, 1995 Supplement to the Prospectus dated March 31, 1995
The following supplements information contained in the prospectus dated March
31, 1995.
* On October 13, 1995, the Board of Directors of the Aetna Series Fund, Inc.
adopted a Plan of Liquidation on behalf of the Aetna Tax-Free Fund (the
"Plan"). The Aetna Tax-Free Fund is closed to new investments. The Plan
will be submitted to shareholders of the Aetna Tax-Free Fund for approval.
ALIAC has agreed to waive all deferred sales charges on any redemptions
occurring after October 13, 1995.
* On September 20, 1995, the Board of Directors of the Aetna Series Fund, Inc.
adopted a Plan of Reorganization and Liquidation on behalf of the Aetna Asian
Growth Fund (the "Plan"). If the Plan is approved by the Asian Growth Fund
shareholders, the Aetna International Growth Fund would acquire all the assets
of the Asian Growth Fund, the shareholders of the Asian Growth Fund would
become shareholders of the International Growth Fund, and the Asian Growth
Fund would be liquidated.
* Notice has been given to Dunedin Fund Managers, Ltd., the investment
subadviser of the Aetna International Growth Fund, that the Board of Directors
of the Fund has voted to terminate the subadvisory agreement with Dunedin.
Effective December 1, 1995 the day-to-day management of the portfolio will be
assumed by ALIAC, the current Investment Adviser (the "Adviser").
* Effective July 28, 1995 Kevin M. Means has replaced Martin J. Duffy as the
Portfolio Manager for the Growth and Income Fund. The following paragraph
replaces the Growth and Income Fund Portfolio Management section currently
printed in the prospectus on page 40:
Growth and Income Fund. Kevin M. Means, Portfolio Manager, ALIAC. Mr. Means
has over eight years investment management experience. Before joining ALIAC in
1994 he was with INVESCO Capital Management, Inc. Vince Fioramonti, who is
responsible for Hong Kong transactions for this Fund, has been with ALIAC
since 1994 and has over 7 years of international investment experience.
Form X41694.00.3 October 1995
