PHOENIX SERIES FUND
Supplemented dated May 31, 1996 to
Prospectus and Statement of Additional Information
dated February 28, 1996
Series' Name Change
The name of the "Phoenix U.S. Stock Fund Series" has been changed to the
"Phoenix Aggressive Growth Fund Series" and all references to the former name of
such Series are revised accordingly.
Investment Objectives And Policies
The following replaces the description of the investment objectives and policies
of the Phoenix U.S. Stock Fund Series appearing on pages 18 and 19 of the
Prospectus:
Phoenix Aggressive Growth Fund Series
Appreciation of capital through the use of aggressive investment
techniques is this Series' investment objective, and income will not
generally be considered in the selection of investments. In seeking to
achieve this objective, management may utilize the Series' ability to
expand its investment through the permitted use of bank borrowings (see
"Leverage").
Under normal circumstances, the Aggressive Growth Series will invest at
least 65% of the value of its total assets in common stock and preferred
stock and securities convertible into common stock or other equity
securities. Up to 10% of the Series' total net assets may be invested in
foreign securities. The Aggressive Growth Series may also invest in debt
securities which, in the judgment of the Adviser, offer opportunities
for capital growth. When a temporary defensive position is deemed
advisable, the Series may, without limit, invest in high- grade senior
securities or U.S. Government securities or retain cash or cash
equivalents. The Series may also engage in certain options transactions
and enter into financial futures contracts and related options for
hedging purposes. See "Investment Techniques and Related Risks".
Since investments normally will consist primarily of securities believed
by the Adviser to have substantial potential for capital growth, the
assets of the Aggressive Growth Series may be considered to be subject
to greater risks than those involved if the Series invested in
securities that did not have growth characteristics. The Series is
intended for investors who have the financial ability and investment
experience to regard their shares as a long-term investment involving
risks commensurate with the possibility of achieving substantial capital
gains.
Investment Techniques
Consistent with the discussion above, references contained in page 23 of
the Prospectus and page 9 of the Statement of Additional Information
pertaining to restrictions on the ability of the Aggressive Growth
Series to utilize the investment technique of purchasing foreign
securities has been eliminated.
Portfolio Managers
The following replaces the paragraph under "Growth Series" on page 24 of the
Prospectus:
Mr. Van Harissis has served as portfolio manager of the Growth Series
since March 1996, and as such is primarily responsible for the
day-to-day management of the Series. He was a Senior Portfolio Manger
from June 1990, to August 1995, at Howe & Rusling, Inc. and Assistant
Vice President, Investment Management Services, Manufacturers & Traders
Bank from July 1986, to June 1990.
