EXHIBIT 17(A)
                               FORM OF PROXY CARD

                                IDEX MUTUAL FUNDS
                                IDEX MUNDER NET50

        PROXY FOR A SPECIAL MEETING OF SHAREHOLDERS on February 12, 2003

           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoint(s) John K. Carter and Thomas R. Moriarty or
either one of them, proxies, with full power of substitution, to vote all shares
of IDEX Munder Net50 (the "Acquired Fund") which the undersigned is entitled to
vote at the Special Meeting of Shareholders of the Fund to be held at the
offices of IDEX Mutual Funds at 570 Carillon Parkway, St. Petersburg, Florida
33716, on February 12, 2003 at 10:00 a.m., local time, and at any adjournment
thereof.

This proxy will be voted as instructed. If no specification is made, the proxy
will be voted "FOR" the proposal.

Please vote, date and sign this proxy and return it promptly in the enclosed
envelope.

Please indicate your vote by an "x" in the appropriate box below.

PROXY VOTING INSTRUCTIONS

IDEX Mutual Funds encourages all shareholders to vote their proxies. We now
provide the following convenient methods of voting:

1.  PROXY CARD: Complete, sign, date and return the proxy card attached below in
    the enclosed postage-paid envelope; or INSTEAD vote by

2.  TELEPHONE;

3.  INTERNET; or

4.  FACSIMILE

by following the enclosed instructions. If you choose to vote by telephone, via
the Internet or by facsimile, DO NOT return your proxy card, unless you later
decide to change your vote.

THE BOARD OF TRUSTEES RECOMMENDS A VOTE FOR THE FOLLOWING PROPOSAL:

1.  To approve an Agreement and Plan of Reorganization providing for the
    acquisition of all of the assets and liabilities of IDEX Munder Net50 (the
    "Acquired Fund") by IDEX PBHG Mid Cap Growth (the "Acquiring Fund") solely
    in exchange for shares of Acquiring Fund, followed by the complete
    liquidation of Acquired Fund.

                 For  [ ]     Against   [ ]    Abstain   [ ]

This proxy must be signed exactly as your name(s) appears hereon. If as an
attorney, executor, guardian or in some representative capacity or as an officer
of a corporation, please add titles as such. Joint owners must each sign.

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