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SECURITY GROWTH AND INCOME FUND GETS FACELIFT

 TOPEKA, Kan., Aug. 3 /PRNewswire/ -- Security Benefit Group of Cos. announced that on July 6, the Security Investment Fund became the Security Growth and Income Fund. Founded in 1944, Security Investment Fund was the oldest fund in the Security family of funds. Since its inception, the primary emphasis of the Security Investment Fund had been current income, with a secondary emphasis on long-term growth and preservation of capital.
 As more people look toward retirement, investors are shifting their goals from current income to accumulating funds. Long-term growth is now the primary goal of the Security Growth and Income Fund, with a secondary emphasis on current income.
 The Fund's management team, under the leadership of senior portfolio manager John Cleland, hasn't changed. Cleland, who has more than 35 years of experience in the securities industry has been a portfolio manager for the Security Management Co. since 1968.
 The Security Management Co. (SMC) is a wholly owned subsidiary of Security Benefit Group Inc. SMC provides investment management services to the seven mutual funds that make up the Security Funds.
 Security Growth and Income Fund has always invested in a diversified portfolio of common stocks, bonds and convertible securities. With the change in the investment objective of the Fund, the equity investments of the Fund will emphasize earnings and asset growth as compared to income attributes, such as dividends and interest emphasized in prior years.
 A large percentage of the $78.5 million fund's portfolio is currently focused on technology stocks. The second sector of emphasis is currently on banks, with a third sector of emphasis on telecommunications.
 From $11 in assets in 1892, the Security Benefit Group of Cos. has grown into an international financial services organization with more than $4.2 billion in total assets under management. Through its worldwide network of more than 12,000 independent sales representatives, the Group offers mutual funds (through Security Distributors Inc.), retirement plans, life insurance and annuities to half a million customers and policyholders around the world.
 -0- 8/3/93
 /CONTACT: Bill Ackerly of Security Benefit Group of Cos., 913-295-3123/


CO: Security Benefit Group of Cos. ST: Kansas IN: FIN SU: PDT

BB -- DV001 -- 8725 08/03/93 08:42 EDT
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Publication:PR Newswire
Date:Aug 3, 1993
Words:368
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