EXHIBIT 16
                               POWERS OF ATTORNEY

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Peter R. Brown
                                                     --------------------------
                                                     Peter R. Brown
                                                     Trustee and Vice Chairman

                                                     Date: August 31, 2002
                                                           --------------------

                                IDEX MUTUAL FUNDS
                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Daniel Calabria
                                                     --------------------------
                                                     Daniel Calabria
                                                     Trustee

                                                     Date: September 2, 2002
                                                           --------------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, her true and lawful attorneys and agents in her name, place and
stead and on her behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Janice B. Case
                                                     --------------------------
                                                     Janice B. Case
                                                     Trustee

                                                     Date: September 5, 2002
                                                           --------------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Charles C. Harris
                                                     --------------------------
                                                     Charles C. Harris
                                                     Trustee

                                                     Date:    September 29, 2002
                                                              -----------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Leo J. Hill
                                                     --------------------------
                                                     Leo J. Hill
                                                     Trustee

                                                     Date:     September 4, 2002
                                                              -----------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ John R. Kenney
                                                     --------------------------
                                                     John R. Kenney
                                                     Trustee and Chairman

                                                     Date:     September 9, 2002
                                                              -----------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Russell A. Kimball, Jr.
                                                     --------------------------
                                                     Russell A. Kimball, Jr.


                                                     Date:    September 7, 2002
                                                              -----------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Larry N. Norman
                                                     --------------------------
                                                     Larry N. Norman
                                                     Trustee

                                                     Date:     September 9, 2002
                                                             ------------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ William W. Short, Jr.
                                                     --------------------------
                                                     William W. Short, Jr.
                                                     Trustee

                                                     Date:   September 1, 2002
                                                            -------------------

                                IDEX MUTUAL FUNDS

                                POWER OF ATTORNEY

         KNOW ALL MEN BY THESE PRESENT, that the undersigned hereby makes,
constitutes and appoints JOHN K. CARTER and THOMAS R. MORIARTY, and each of
them, severally, his true and lawful attorneys and agents in his name, place and
stead and on his behalf (a) to sign and cause to be filed registration
statements of IDEX Mutual Funds under the Securities Act of 1933 and the
Investment Company Act of 1940, and all amendments, consents and exhibits
thereto; (b) to withdraw such statements or any amendments or exhibits and make
requests for acceleration in connection therewith; (c) to take all other action
of whatever kind or nature in connection with such registration statements which
said attorneys may deem advisable; and (d) to make, file, execute, amend and
withdraw documents of every kind, and to take other action of whatever kind they
may elect, for the purpose of complying with the laws of any state relating to
the sale of securities of the Fund, hereby ratifying and confirming all actions
of any of said attorneys and agents hereunder. Said attorneys or agents may act
jointly or severally, and the action of one shall bind the undersigned as fully
as if two or more had acted together.

                                                     /s/ Jack E. Zimmerman
                                                     --------------------------
                                                     Jack E. Zimmerman
                                                     Trustee

                                                     Date:    September 3, 2002
                                                            -------------------