-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EjScgstH61gCQz15A9o6kYCDJpV1kzQ/G9ejt8AwCHM8xu7glmij3J4KFrjiRWuc HFglUKrHUSiLcBwmX/Vk0w== 0000088525-06-000227.txt : 20060406 0000088525-06-000227.hdr.sgml : 20060406 20060406151421 ACCESSION NUMBER: 0000088525-06-000227 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060406 DATE AS OF CHANGE: 20060406 EFFECTIVENESS DATE: 20060406 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SECURITY EQUITY FUND CENTRAL INDEX KEY: 0000088525 IRS NUMBER: 486104426 STATE OF INCORPORATION: KS FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-19458 FILM NUMBER: 06744834 BUSINESS ADDRESS: STREET 1: SECURITY MANAGEMENT COMPANY, LLC STREET 2: ONE SECURITY BENEFIT PLACE CITY: TOPEKA STATE: KS ZIP: 66636-0001 BUSINESS PHONE: 7854383127 MAIL ADDRESS: STREET 1: SECURITY MANAGEMENT COMPANY, LLC STREET 2: ONE SECURITY BENEFIT PLACE CITY: TOPEKA STATE: KS ZIP: 66636-0001 0000088525 S000008808 SOCIAL AWARENESS C000023967 A SWAAX C000023968 B SWABX C000023969 C SESAX 0000088525 S000008811 ENHANCED INDEX C000023976 A SEEAX C000023977 B SBEIX C000023978 C SEFCX 0000088525 S000008812 SELECT 25 C000023979 A SEFAX C000023980 B SEFBX C000023981 C SSSCX 0000088525 S000008813 LARGE CAP GROWTH C000023982 A SFLAX C000023983 B SFGLX C000023984 C SLACX 497 1 ef-497e.htm SUPPLEMENT DATED APRIL 7, 2006 Supplement
 

Security Equity Fund
One Security Benefit Place
Topeka, Kansas 66636-0001

Supplement Dated April 7, 2006
to Prospectus Dated February 1, 2006

The Board of Directors of Security Equity Fund (the “Fund”) has approved the reorganization of each of its Large Cap Growth Fund, Social Awareness Fund and Enhanced Index Fund (each an “Acquired Fund”) into the Select 25 Fund (the “Acquiring Fund”) (each such transaction a “Reorganization”), as indicated in the chart below.

Acquired Fund

Acquiring Fund

Large Cap Growth Fund

Select 25 Fund

Social Awareness Fund

Enhanced Index Fund

The Board approved each of the Reorganizations because it believes that the Reorganizations are in the best interests of the above funds and their shareholders, and will not dilute the interests of Fund shareholders. The Reorganization will be submitted to a vote of the shareholders of each Acquired Fund at a meeting to be held on or about June 1, 2006. In advance of the meeting, a combined proxy statement/prospectus describing the Acquiring Fund and the proposed Reorganizations will be mailed to shareholders of record as of April 3, 2006.

If the Reorganization is approved by the shareholders of an Acquired Fund and certain other conditions are satisfied, the assets and liabilities of the Acquired Fund will be transferred to the corresponding Acquiring Fund, and shareholders of the Acquired Fund will become shareholders of the Acquiring Fund. Acquired Fund shareholders will receive shares of the Acquiring Fund, having an equivalent net asset value to their investments in the Acquired Fund, in exchange for their shares of the Acquired Fund. If the Reorganization is approved by shareholders of an Acquired Fund, it is expected that the reorganization of the Fund will occur effective as of the close of business on June 16, 2006.

The Acquired Funds will no longer accept orders for the purchase of shares, effective May 1, 2006, although shareholders may redeem shares of the Acquired Funds after that date.

Please Retain This Supplement For Future Reference

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