NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1999
Aetna Generation Portfolios, Inc. (Company) is registered under the Investment Company Act of 1940 (the Act)
as an open-end management investment company. It was incorporated under the laws of Maryland on October
14, 1994 and is authorized to issue multiple series of shares, each representing a diversified portfolio of
investments (individually, a Portfolio and collectively, the Portfolios) with its own investment objective, policies
Currently, the Company offers shares of the Aetna Ascent VP, Aetna Crossroads VP and Aetna Legacy VP.
Each of these diversified Portfolios commenced investment operations on July 5, 1995. The Portfolios are asset
allocation funds that seek to maximize long-term investment returns at varying levels of risk.
The following is each Portfolio's investment objective:
AETNA ASCENT VP (Ascent) seeks to provide capital appreciation.
AETNA CROSSROADS VP (Crossroads) seeks to provide total return (i.e., income and capital appreciation,
both realized and unrealized).
AETNA LEGACY VP (Legacy) seeks to provide total return consistent with preservation of capital.
Shares of the Portfolios are offered to insurance company separate accounts that fund both annuity and life
insurance contracts and to certain tax-qualified retirement plans. At December 31, 1999, separate accounts of
Aetna Life Insurance and Annuity Company (ALIAC) and its affiliates held 98.5%, 98.8% and 99.2% of Ascent,
Crossroads and Legacy's shares outstanding, respectively.
Aeltus Investment Management, Inc. (Aeltus) serves as the investment adviser to the Portfolios. ALIAC serves
as the principal underwriter to each Portfolio. Aeltus and ALIAC are both indirect wholly-owned subsidiaries of
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying financial statements of each Portfolio has been prepared in accordance with generally
accepted accounting principles. The preparation of financial statemen