Phoenix-Engemann Funds
Supplement dated March 20, 1998
to Prospectus dated January 20, 1998
Introduction
The following sentence should be inserted as the last sentence in the first
paragraph under the heading "Purchase of Shares" located on page 3 of the
Prospectus.
Class M Shares are currently closed to new investors and subsequent
investments by existing shareholders.
Investor Account Services
The following sentence should be inserted as the last sentence in the first
paragraph under the heading "Exchange Privileges" located on page 32 of the
Prospectus.
Existing shareholders in Class M Shares may exchange their shares for
Class M Shares of any other Affiliated Phoenix Fund without paying any
fees or sales charges provided the fund into which the exchange is made
has existing Class M Share investors at the time of the exchange.
PDP 2011T (3/98)
