NOTES TO FINANCIAL STATEMENTS
OCTOBER 31, 2000
Aetna Series Fund, 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 June 17, 1991.
The Articles of Incorporation permit the Company to offer separate funds, each of which has it's own investment
objective, policies and restrictions.
This report covers five funds, (each a Fund; collectively, the Funds) Aetna Principal Protection Fund I (PPF I),
Aetna Principal Protection Fund II (PPF
II), Aetna Principal Protection Fund III (PPF III), Aetna Principal Protection Fund IV (PPF IV) and Aetna
Index Plus Protection Fund (IPPF). Each Fund seeks to achieve maximum total return by participating in
favorable equity market performance while preserving the principal amount of the Fund as of the inception of
each Fund's Guarantee Period. Each Fund guarantees that the amount distributed to each shareholder will be no
less than the value of that shareholder's investment as of the inception of the Guarantee Period provided that all
distributions received from the Fund have been reinvested and no shares have been redeemed. Each Funds'
Guarantee is backed by an unconditional irrevocable guarantee from MBIA Insurance Corporation (MBIA), an
AAA/Aaa rated monoline financial guarantor. Each Fund pays MBIA a guarantee fee of 0.33% of its average
daily net assets.
The Funds are authorized to offer two classes of shares, Class A and Class B. Information regarding sales
charges and fees pursuant to Rule 12b-1 of the Act are as follows:
CLASS A: Generally, subject to a front-end sales charge; distribution fees (service fee for IPPF) of 0.25% (of
average net assets of the class per year).
CLASS B: No front-end sales charge; contingent deferred sales charge (CDSC) applies if you sell your shares
prior to the Maturity Date; distribution fees of 0.75%; service fees of 0.25%.
Aeltus Investment Management, Inc. (Aeltus) serve