PHOENIX-SENECA FUNDS
PHOENIX-SENECA GROWTH FUND
Supplement dated September 15, 1999 to Prospectus dated
January 28, 1999, as supplemented July 6, 1999
On August 26, 1999, the Board of Trustees of Phoenix-Seneca Funds (the
"Trust") unanimously approved an Agreement and Plan of Reorganization (the
"Agreement") relating to the proposed combination of the Phoenix-Seneca Growth
Fund of the Trust and the Phoenix-Seneca Equity Opportunities Fund of the
Phoenix Strategic Equity Series Fund.
Pursuant to the Agreement, the Growth Fund will transfer all or
substantially all of its assets to the Equity Opportunities Fund in exchange for
shares of the Equity Opportunities Fund and the assumption by the Equity
Opportunities Fund of all liabilities of the Growth Fund. Following the
exchange, the Growth Fund will distribute the shares of the Equity Opportunities
Fund to its shareholders pro rata, in liquidation of the Growth Fund. The Equity
Opportunities Fund will be renamed "Phoenix-Seneca Growth Fund" at the time the
combination of funds is effected. The effectiveness of these transactions is
subject to the satisfaction of a number of conditions, including approval by
shareholders of the Growth Fund. It is currently anticipated that these matters
will be submitted for a vote at a meeting of shareholders to be held in November
1999.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE.
PXP 2069/GF (9/99)
