PHOENIX-SENECA FUNDS
Supplement dated March 17, 2000 to
Prospectus dated January 28, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the Growth Fund, the Mid-Cap "EDGE" Fund and the Real Estate Securities Fund
will be 5.75%. For the Bond Fund, the maximum sales charge payable on Class A
Shares remains at 4.75%. The reduced sales charges payable on investments over
certain amounts and the dealer discounts applicable to Class A Shares have also
changed. These changes do not affect shareholders' existing investments in the
funds. However, any future investments in Class A Shares on or after April 3,
2000, including amounts invested under an automatic investment plan, will be
subject to the revised sales charge schedule. The prospectus is hereby amended
as described below.
The chart below provides restated Class A share average annual total returns
(for calendar year periods) for the Growth Fund, the Mid-Cap "EDGE" Fund and the
Real Estate Securities Fund based on the deduction of the new maximum sales
charge of 5.75%. This chart replaces Class A share performance information in
the current prospectus on page 8 for the Growth Fund, page 13 for the Mid-Cap
"EDGE" Fund and page 18 for the Real Estate Securities Fund. All other
performance information contained in the current prospectus remains unchanged.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------- -------------------------- ----------------------------
AVERAGE ANNUAL TOTAL RETURNS (for periods ending 12/31/99)(1) ONE YEAR LIFE OF THE FUND(2)
- ------------------------------------------------------------------------- -------------------------- ----------------------------
<S> <C> <C>
Growth Fund Class A Shares 30.92% 32.78%
- ------------------------------------------------------------------------- -------------------------- ----------------------------
Mid-Cap "EDGE" Fund 36.27% 31.66%
- ------------------------------------------------------------------------- -------------------------- ----------------------------
Real Estate Securities Fund -9.83% 1.25%
- ------------------------------------------------------------------------- -------------------------- ----------------------------
</TABLE>
(1) Average annual total returns in the table above reflect the deduction
of the maximum sales charge (5.75%) for an investment in the funds'
Class A shares.
(2) Since March 8, 1996 for the Growth Fund and Mid-Cap "EDGE" Fund and
March 12, 1996 for the Real Estate Securities Fund.
The "Fund Expenses" tables on pages 9, 14 and 19 of the current prospectus are
amended to reflect that the maximum sales charge (load) imposed on purchases of
Class A Shares, as a percentage of the offering price, is 5.75%.
The first of the Example tables in the current prospectus on page 10 for the
Growth Fund, page 15 for the Mid-Cap "EDGE" Fund and page 20 for the Real Estate
Securities Fund are amended as follows:
<TABLE>
<CAPTION>
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
<S> <C> <C> <C> <C>
Growth Fund Class A Shares $713 $1,004 $1,317 $2,200
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
Mid-Cap "EDGE" Fund Class A Shares $815 $1,312 $1,834 $3,257
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
Real Estate Securities Fund Class A Shares $979 $1,796 $2,624 $4,749
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
</TABLE>
All other information contained in the Example tables remains unchanged.
Under the heading "Sales Charges: Class A Shares" on page 27 of the current
prospectus, the first sentence is amended to read: "If you purchase Class A
Shares, you will pay a sales charge at the time of purchase equal to 5.75% of
the offering price (6.10% of the amount invested) for the Growth Fund, the
Mid-Cap "EDGE" Fund and the Real Estate Securities Fund and 4.75% of the
offering price (4.99% of the amount invested) for the Bond Fund." The remainder
of that paragraph remains unchanged.
The table under the heading "Sales Charges: Sales charge you may pay to purchase
Class A Shares" on page 28 of the current prospectus is replaced in its entirety
by the following:
BOND FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF
--------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED
- --------------------------------------- -------------- -------------------
<S> <C> <C>
Under $50,000 4.75% 4.99%
$50,000 but under $100,000 4.50% 4.71%
$100,000 but under $250,000 3.50% 3.63%
$250,000 but under $500,000 2.75% 2.83%
$500,000 but under $1,000,000 2.00% 2.04%
$1,000,000 or more None None
</TABLE>
GROWTH FUND, MID-CAP "EDGE" FUND AND REAL ESTATE SECURITIES FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF
--------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED
- --------------------------------------- -------------- -------------------
<S> <C> <C>
Under $50,000 5.75% 6.10%
$50,000 but under $100,000 4.75% 4.99%
$100,000 but under $250,000 3.75% 3.90%
$250,000 but under $500,000 2.75% 2.83%
$500,000 but under $1,000,000 2.00% 2.04%
$1,000,000 or more None None
</TABLE>
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE.
PXP 2069/SC (3/00)
<PAGE>
PHOENIX-SENECA FUNDS
Supplement dated March 17, 2000 to
Statement of Additional Information dated January 28, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the Growth Fund, the Mid-Cap "EDGE" Fund and the Real Estate Securities Fund
will be 5.75%. For the Bond Fund, the maximum sales charge payable on Class A
Shares remains at 4.75%. The reduced sales charges payable on investments over
certain amounts and the dealer discounts applicable to Class A Shares have also
changed. These changes do not affect shareholders' existing investments in the
funds. However, any future investments in Class A Shares on or after April 3,
2000, including amounts invested under an automatic investment plan, will be
subject to the revised sales charge schedule. The Statement of Additional
Information is hereby amended as described below.
The chart below provides restated Class A share average annual total returns
(for fiscal year periods) for the Growth Fund, the Mid-Cap "EDGE" Fund and the
Real Estate Securities Fund based on the deduction of the new maximum sales
charge of 5.75%. This chart replaces Class A share performance information for
the funds on page 15 of the current Statement of Additional Information. All
other performance information contained in the current Statement of Additional
Information remains unchanged.
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------- -------------------------- ----------------------------
AVERAGE ANNUAL TOTAL RETURNS (for periods ending 9/30/99)(1) ONE YEAR LIFE OF THE FUND(2)
- ------------------------------------------------------------------------- -------------------------- ----------------------------
<S> <C> <C>
Growth Fund Class A Shares 24.30% 26.53%
- ------------------------------------------------------------------------- -------------------------- ----------------------------
Mid-Cap "EDGE" Fund 24.67% 20.99%
- ------------------------------------------------------------------------- -------------------------- ----------------------------
Real Estate Securities Fund -13.26% 1.44%
- ------------------------------------------------------------------------- -------------------------- ----------------------------
</TABLE>
(1) Average annual total returns in the table above reflect the deduction
of the maximum sales charge (5.75%) for an investment in the funds'
Class A shares.
(2) Since March 8, 1996 for the Growth Fund and Mid-Cap "EDGE" Fund and
March 12, 1996 for the Real Estate Securities Fund.
The table under the heading "Dealer Concessions" on page 19 of the current
Statement of Additional Information is replaced in its entirety by the
following:
BOND FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF DEALER DISCOUNT AS A PERCENTAGE
-------------------------------- -------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED OF OFFERING PRICE
- --------------------------------------- -------------- ------------------- -----------------
<S> <C> <C> <C>
Under $50,000 4.75% 4.99% 4.25%
$50,000 but under $100,000 4.50% 4.71% 4.00%
$100,000 but under $250,000 3.50% 3.63% 3.00%
$250,000 but under $500,000 2.75% 2.83% 2.25%
$500,000 but under $1,000,000 2.00% 2.04% 1.75%
$1,000,000 or more None None None
</TABLE>
GROWTH FUND, MID-CAP "EDGE" FUND AND REAL ESTATE SECURITIES FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF DEALER DISCOUNT AS A PERCENTAGE
-------------------------------- -------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED OF OFFERING PRICE
- --------------------------------------- -------------- ------------------- -----------------
<S> <C> <C> <C>
Under $50,000 5.75% 6.10% 5.25%
$50,000 but under $100,000 4.75% 4.99% 4.25%
$100,000 but under $250,000 3.75% 3.90% 3.25%
$250,000 but under $500,000 2.75% 2.83% 2.25%
$500,000 but under $1,000,000 2.00% 2.04% 1.75%
$1,000,000 or more None None None
</TABLE>
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE STATEMENT OF ADDITIONAL
INFORMATION FOR FUTURE REFERENCE.
PXP 2069B/SC (3/00)
