PHOENIX-OAKHURST STRATEGIC ALLOCATION FUND, INC.
Supplement dated March 17, 2000 to
Prospectus dated May 1, 1999,
as supplemented October 29, 1999
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the fund will be 5.75%. 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
fund. 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 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 3. All other performance
information contained in the current prospectus remains unchanged.
<TABLE>
<CAPTION>
- --------------------------------------------------------------- ---------------- -------------- ------------- ---------------------
AVERAGE ANNUAL TOTAL RETURNS (for periods ending 12/31/98)(1) ONE YEAR FIVE YEARS TEN YEARS LIFE OF THE FUND
- --------------------------------------------------------------- ---------------- -------------- ------------- ---------------------
<S> <C> <C> <C> <C>
Class A Shares 13.46% 11.48% 12.81% 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 fund's
Class A shares.
The "Fund Expenses" tables on pages 4 of the current prospectus is 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%.
Both of the Example tables in the current prospectus on page 5 are amended as
follows:
<TABLE>
<CAPTION>
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
<S> <C> <C> <C> <C>
Class A Shares $687 $925 $1,182 $1,914
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
</TABLE>
All other information contained in the Example tables remains unchanged.
Under the heading "Sales Charges: Class A Shares" on page 13 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.) The remainder of that
paragraph remains unchanged.
The table under the heading "Sales Charge you may pay to purchase Class A
Shares" on page 14 of the current prospectus is replaced in its entirety by the
following:
<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 453/SC (3/00)
<PAGE>
PHOENIX-OAKHURST STRATEGIC ALLOCATION FUND, INC.
Supplement dated March 17, 2000 to
Statement of Additional Information dated May 1, 1999,
as supplemented July 9, 1999, October 29, 1999 and January 10, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the fund will be 5.75%. 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
fund. 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 fund based on the deduction of the new maximum
sales charge of 5.75%. This chart replaces Class A share performance information
on page 8 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 12/31/98)(1) 1 YEAR 5 YEARS 10 YEARS SINCE INCEPTION
- -------------------------------------------------------------------- --------------- ------------- ------------ -------------------
<S> <C> <C> <C> <C>
Class A Shares 13.46% 11.48% 12.81% 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 fund's
Class A shares.
The table under the heading "The Distributor" on page 17 of the current
Statement of Additional Information is replaced in its entirety by the
following:
<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 458B/SC (3/00)
