AETNA SERIES FUND, INC.
CLASSES A, B, C
AND I
THE INFORMATION IN THIS SUPPLEMENT FOR AETNA SERIES FUND, INC. AMENDS THE
INFORMATION CONTAINED IN THE CLASS A, CLASS B AND CLASS C PROSPECTUS AND THE
CLASS I PROSPECTUS, EACH DATED MARCH 1, 1999. THIS SUPPLEMENT SHOULD BE READ
WITH EACH PROSPECTUS AND THE PREVIOUSLY ISSUED CLASS A, B, C AND I SUPPLEMENT,
DATED AUGUST 1, 1999.
EFFECTIVE NOVEMBER 1, 1999, Aeltus Investment Management, Inc. has agreed to
waive a portion of its investment advisory fee and/or its administrative
services fee and/or reimburse a portion of the other expenses to ensure that the
total net operating expenses for Aetna Ascent Fund, Aetna Crossroads Fund and
Aetna Legacy Fund do not exceed the following amounts:
<TABLE>
<CAPTION>
Class A Class B Class C Class I
------- ------- ------- -------
<S> <C> <C> <C> <C>
Aetna Ascent Fund 1.25% 2.00% 2.00% 1.00%
Aetna Crossroads Fund 1.20% 1.95% 1.95% 0.95%
Aetna Legacy Fund 1.15% 1.90% 1.90% 0.90%
</TABLE>
EFFECTIVE MARCH 1, 2000, the following replaces the chart in the section
entitled "The Funds' Investments" on page 22 of the Class A, Class B and Class C
Prospectus and on page 24 of the Class I Prospectus:
<TABLE>
<CAPTION>
ASCENT CROSSROADS LEGACY
ASSET CLASS VP VP(1) VP(2) COMPARATIVE INDEX
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Equities
LARGE CAPITALIZATION STOCKS
Range 0 - 70% 0 - 50% 0 - 30% S&P 500 Index
Benchmark 35% 25% 15%
SMALL-/MID-CAPITALIZATION STOCKS
Range 0 - 40% 0 - 30% 0 - 20% Russell 2500 Index
Benchmarks 20% 15% 10%
INTERNATIONAL STOCKS Morgan Stanley Capital
Range 0 - 40% 0 - 30% 0 - 20% International Europe,
Benchmark 20% 15% 10% Australia and Far East Index
REAL ESTATE STOCKS National Association of
Range 0 - 10% 0 - 10% 0 - 10% Real Estate Investment
Benchmark 5% 5% 5% Trusts Equity Index
Fixed Income
U.S. DOLLAR BONDS
Range 0 - 30% 0 - 60% 0 - 90% Salomon Brothers Broad
Benchmarks 15% 30% 45% Investment Grade Index
INTERNATIONAL BONDS
Range 0 - 10% 0 - 10% 0 - 10% Salomon Brothers Non-U.S.
Benchmarks 5% 5% 5% World Government Bond Index
Money Market Instruments
Range 0 - 30% 0 - 30% 0 - 30% 91-Day U.S. Treasury
Benchmarks 0% 5% 10% Bill Rate
</TABLE>
(1) Crossroads will invest no more than 60% of its assets in any combination
of the following asset classes: small-/mid-capitalization stocks, high-yield
bonds, international stocks and international fixed-income securities.
(2) Legacy will invest no more than 35% of its assets in any combination of
the following asset classes: small-/mid-capitalization stocks, high-yield
bonds, international stocks and international fixed-income securities.
P145 November 1999
