PHOENIX SERIES FUND
Supplement dated March 17, 2000 to
Prospectus dated February 28, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the Aggressive Growth Fund, Capital Growth Fund and Balanced Fund will be
5.75%. For the Core Bond Fund and High Yield Fund, the maximum sales charge
payable on Class A Shares remain at 4.75%. The reduced sales charges payable on
investments over certain amounts and the dealer discounts applicable to Class A
Shares of these funds 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.
For the Money Market Fund, there is no sales charge payable on Class A Shares
and Class A Shares of the Money Market Fund are not affected by this supplement.
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 Aggressive Growth Fund, Capital Growth Fund
and Balanced 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 9 for the Aggressive Growth Fund, page 15 for Capital Growth
Fund and page 33 for Balanced 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 FIVE YEARS TEN YEARS LIFE OF THE
FUND(2)
- -------------------------------------------------------------- ----------------- -------------- ------------- --------------
<S> <C> <C> <C> <C>
Aggressive Growth Fund Class A Shares 73.09% 35.35% 20.42% NA
- -------------------------------------------------------------- ----------------- -------------- ------------- --------------
Capital Growth Fund Class A Shares 21.59% 24.46% 17.59% NA
- -------------------------------------------------------------- ----------------- -------------- ------------- --------------
Balanced Fund Class A Shares 4.39% 14.42% 11.13% NA
- -------------------------------------------------------------- ----------------- -------------- ------------- --------------
</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.
The "Fund Expenses" tables on pages 10, 15 and 34 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 11 for
Aggressive Growth Fund, page 16 for Capital Growth Fund and page 35 for Balanced
Fund are amended as follows:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------- --------------- --------------- ---------------- --------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ----------------------------------------------------------------- --------------- --------------- ---------------- --------------
<S> <C> <C> <C> <C>
Aggressive Growth Fund Class A Shares $689 $931 $1,192 $1,935
- ----------------------------------------------------------------- --------------- --------------- ---------------- --------------
Capital Growth Fund Class A Shares $678 $896 $1,131 $1,806
- ----------------------------------------------------------------- --------------- --------------- ---------------- --------------
Balanced Fund Class A Shares $668 $866 $1,080 $1,696
- ----------------------------------------------------------------- --------------- --------------- ---------------- --------------
</TABLE>
All other information contained in the Example tables remains unchanged.
Under the heading "Sales Charges: Class A Shares" on page 41 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 Aggressive Growth
Fund, Capital Growth Fund and Balanced Fund and 4.75% of the offering price
(4.99% of the amount invested) for the Core Bond Fund and High Yield 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 42 of the current prospectus is replaced in its entirety
by the following:
CORE BOND FUND AND HIGH YIELD 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>
AGGRESSIVE GROWTH FUND, CAPITAL GROWTH FUND AND BALANCED 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 363/SC (3/00)
<PAGE>
PHOENIX SERIES FUND
Supplement dated March 17, 2000 to
Statement of Additional Information dated February 28, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares of
the Aggressive Growth Fund, Capital Growth Fund and Balanced Fund will be 5.75%.
For the Core Bond Fund and High Yield Fund, the maximum sales charge payable on
Class A Shares remain at 4.75%. The reduced sales charges payable on investments
over certain amounts and the dealer discounts applicable to Class A Shares of
these funds 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. For the
Money Market Fund, there is no sales charge payable on Class A Shares and Class
A Shares of the Money Market Fund are not affected by this supplement. 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 Aggressive Growth Fund, Capital Growth Fund
and Balanced Fund based on the deduction of the new maximum sales charge of
5.75%. This chart replaces Class A share performance information for these funds
on page 10 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 10/31/99)(1) ONE YEAR FIVE YEARS 10 YEARS
- -------------------------------------------------------------------- ----------------- ------------------ --------------------
<S> <C> <C> <C>
Aggressive Growth Fund Class A Shares 68.65% 26.31% 16.96%
- -------------------------------------------------------------------- ----------------- ------------------ --------------------
Capital Growth Fund Class A Shares 22.30% 19.82% 14.58%
- -------------------------------------------------------------------- ----------------- ------------------ --------------------
Balanced Fund Class A Shares 10.02% 12.80% 13.70%
- -------------------------------------------------------------------- ----------------- ------------------ --------------------
</TABLE>
(1) Average annual total return in the table above reflect the deduction of
the maximum sales charge (5.75%) for an investment in the funds' Class
A shares.
The table under the heading "Dealer Concessions" on page 22 of the current
Statement of Additional Information is replaced in its entirety by the
following:
CORE BOND FUND AND HIGH YIELD 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>
AGGRESSIVE GROWTH FUND, CAPITAL GROWTH FUND AND BALANCED 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 472B/SC (3/00)
