EXHIBIT 16. (17)

                               FORM OF PROXY CARD




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                                EXHIBIT 16. (17)

                          IDEX ALGER AGGRESSIVE GROWTH
                                     FORM OF

          PROXY FOR A SPECIAL MEETING OF SHAREHOLDERS ON APRIL 23, 2004
           THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES

The undersigned hereby appoint(s) John K. Carter and Brian C. Scott or either
one of them, proxies, with full power of substitution, to vote all shares of
IDEX Alger Aggressive Growth which the undersigned is entitled to vote at the
Special Meeting of shareholders of the Fund to be held at the office of IDEX
Mutual Funds ("IDEX") at 570 Carillon Parkway, St. Petersburg, Florida 33716 on
April 23, 2004 at 12:00 p.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 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 a Plan of Reorganization providing for the acquisition of
         all of the assets and liabilities of IDEX Alger Aggressive Growth (the
         "Acquired Fund") by IDEX Transamerica Equity (the "Acquiring Fund")
         solely in exchange for shares of the Acquiring Fund, followed by the
         complete liquidation of the Acquired Fund


            FOR         ?             AGAINST  ?                 ABSTAIN  ?



- -----------------------------------            ---------------------------
Signature                                      Date

- -----------------------------------            ---------------------------
Signature (if held jointly)                    Date



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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