Supplement Dated July 10, 1997 to Prospectus
for Aetna Generation Series
Dated March 3, 1997
This Supplement should be read and retained with the Prospectus for Aetna
Generation Series dated March 3, 1997.
1. The following replaces the table entitled "Select Class Annual Operating
Expenses" located on page 6 of the prospectus for Aetna Generation
Series--Adviser Class and page 5 of the prospectus for Aetna Generation
Series--Select Class.
SELECT CLASS
ANNUAL OPERATING EXPENSES
(as a percentage of average daily net assets)
<TABLE>
<CAPTION>
Management/ Total Operating
Advisory Fee Administrative Other Expenses
(after fee waiver) Fee Expenses (after fee waiver)1
-------------------- ---------------- ---------- --------------------
<S> <C> <C> <C> <C>
Ascent 0.47% 0.25% 0.68% 1.40%
Crossroads 0.46% 0.25% 0.69% 1.40%
Legacy 0.47% 0.25% 0.68% 1.40%
</TABLE>
1 From time to time, Aetna may agree to waive all or a portion of its
Management/Advisory Fee and/or its Administrative Fee for a particular
Series and to reimburse some or all of a particular Series' Other Expenses
or waive some or all of the expenses specific to a particular Class. Such
fee waiver/expense reimbursement arrangements will increase total return and
may be modified or terminated at any time.
The expenses shown above are based on the year ended October 31, 1996 and
reflect the most current fee waiver arrangements. Fee waiver arrangements are
in effect for each Series and limit the Total Operating Expenses to the amounts
shown above. Without these arrangements, Management/Advisory Fees for each
Series would be 0.80% and Total Operating Expenses would be 1.73%, 1.74% and
1.73%, respectively, for Ascent, Crossroads and Legacy.
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X.GENFUNDS-97
<PAGE>
2. The following replaces the table entitled "Adviser Class Estimated Annual
Operating Expenses" located on page 5 of the prospectus for Aetna
Generation Series-Adviser Class and page 6 of the prospectus for Aetna
Generation Series--Select Class.
ADVISER CLASS
ESTIMATED ANNUAL OPERATING EXPENSES
(as a percentage of average daily net assets)
<TABLE>
<CAPTION>
Total
Management/ Operating
Advisory Fee 12b-1 Fee Expenses
(after fee Administrative (after fee Other (after fee
waiver) Fee waiver) Expenses waiver)1
-------------- ---------------- ------------ ---------- -----------
<S> <C> <C> <C> <C> <C>
Ascent 0.47% 0.25% 0.25% 0.93% 1.90%
Crossroads 0.46% 0.25% 0.25% 0.94% 1.90%
Legacy 0.47% 0.25% 0.25% 0.93% 1.90%
</TABLE>
1 Adviser Class shares became available on January 20, 1997. The only expenses
specific to the Adviser Class shares are Shareholder Servicing and 12b-1
fees equal to 0.25% and 0.50%, respectively, of the average daily net assets
of the Adviser Class. All other expenses are incurred by each series of the
Fund and allocated daily to Select Class and Adviser Class of each series
based on the net assets of each class.
From time to time, Aetna may agree to waive all or a portion of its
Management/Advisory Fee and/or its Administrative Fee for a particular Series,
to reimburse some or all of a particular Series' Other Expenses or waive some
or all of the expenses specific to a particular Class. Such fee waiver/expense
reimbursement arrangements will increase total return and may be modified or
terminated at any time.
Expenses shown above are estimates based on actual expenses incurred by the
Select Class of each Series for the year ended October 31, 1996 (increased by
expenses specific to Adviser Class) and reflect the most current fee waiver
arrangements. Fee waiver arrangements are in effect for each Series and limit
the Total Operating Expenses to the amounts shown above. Without these
arrangements Management/Advisory Fees, 12b-1 Fees and Total
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<PAGE>
Operating Expenses would be 0.80%, 0.50% and 2.48% for Ascent; 0.80%, 0.50% and
2.49% for Crossroads; and 0.80%, 0.50% and 2.48% for Legacy.
3. The following replaces the "Adviser Class Example" located on page 6 of the
prospectus for Aetna Generation Series--Adviser Class and page 6 of the
prospectus for Aetna Generation Series--Select Class.
Adviser Class Example
Using the percentage specified in the table of Adviser Class Estimated Annual
Operating Expenses, you would pay the following expenses on a $1,000
investment, assuming a 5% annual return and redemption at the end of each of
the periods shown:
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
-------- --------- --------- ---------
<S> <C> <C> <C> <C>
Ascent
Redemption at the end of $29 $65 $103 $222
each time period
No Redemption 19 60 103 222
Crossroads
Redemption at the end of 29 65 103 222
each time period
No Redemption 19 60 103 222
Legacy
Redemption at the end of 29 65 103 222
each time period
No Redemption 19 60 103 222
</TABLE>
This example should not be considered an indication of prior or future
expenses. Actual expenses may be greater or less than those shown. This example
reflects, among other things, the application of the maximum Deferred Sales
Charge imposed on Adviser Class shares.
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<PAGE>
4. The following replaces the "Select Class Example" located on page 7 of the
prospectus for Aetna Generation Series--Adviser Class and page 5 of the
prospectus for Aetna Generation Series--Select Class.
Select Class Example
Using the percentages specified in the table of Select Class Annual Operating
Expenses, you would pay the following expenses on a $1,000 investment, assuming
a 5% annual return and redemption at the end of each of the periods shown:
<TABLE>
<CAPTION>
1 Year 3 Years 5 Years 10 Years
-------- --------- --------- ---------
<S> <C> <C> <C> <C>
Ascent $14 $44 $77 $168
Crossroads 14 44 77 168
Legacy 14 44 77 168
</TABLE>
This example should not be considered an indication of prior or future
expenses. Actual expenses for the current year may be greater or less than
those shown.
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