PHOENIX-EUCLID MARKET NEUTRAL FUND
Supplement dated January 1, 2000 to
Prospectus dated November 30, 1998,
as supplemented December 16, 1998, March 1, 1999, May 1, 1999,
August 20, 1999 and September 2, 1999
Effective January 1, 2000, the Portfolio Manager for the Phoenix-Euclid Market
Neutral Fund is Sung Chung. Accordingly, the section "The Portfolio Manager" on
page 5 of the current prospectus is hereby replaced with the following:
Sung Chung is the fund's portfolio manager. He serves as Vice President
of Phoenix-Euclid Funds and also of Phoenix-Zweig Trust. Until he
assumed the role of portfolio manager of the fund on January 1, 2000,
Mr. Chung, since joining Euclid in June 1999, was responsible for
research on the stock selection models used in managing the fund.
Previously, Mr. Chung served as a Vice President for Mitchell Hutchins
Asset Management, where he was responsible for managing indexed,
enhanced-indexed, and market neutral products, as well as conducting
quantitative research. Mr. Chung received his B.A. in Political Science
from the University of Pennsylvania and an MBA in Finance from New York
University (Stern School of Business).
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE.
PXP 1205PM (1/00)
