PHOENIX SERIES FUND
Supplement dated September 8, 1997 to
Prospectus and Statement of Additional Information dated February 28, 1997
as supplemented March 10, 1997 and June 30, 1997
INVESTMENT OBJECTIVES AND POLICIES
The change to the second sentence in the first paragraph under the heading
"Phoenix U.S. Government Securities Fund Series" located on page 19 of the
Prospectus made with the supplement dated March 10, 1997 is hereby rescinded.
The following replaces the third and fourth sentences of the same paragraph.
This Series may invest up to 35% of its net assets in short-term
instruments including bank certificates of deposit and time
deposits, bankers' acceptances and repurchase agreements.
In addition, this Series may invest up to 35% of its net
assets in investment grade securities including taxable
municipal bonds, non-agency mortgage-backed securities and
corporate bonds.
INVESTMENT POLICIES
The following replaces the paragraph under the heading "Money Market
Instruments." found on page 1 of the Statement of Additional Information.
Certain money market instruments used extensively by
the Money Market Fund Series, and to a lesser extent
by the other Series, are described below.
