THE PHOENIX-ENGEMANN FUNDS
PHOENIX-ENGEMANN VALUE 25 FUND
Supplement dated January 18, 2001 to the Prospectus dated May 1, 2000
On January 16, 2001, the Board of Trustees of The Phoenix-Engemann Funds
voted to direct the mandatory redemption of all shares of all classes of the
Phoenix-Engemann Value 25 Fund. The Trustees determined that liquidation is in
the best interests of the shareholders based upon consideration of the expense
of maintaining this Fund. The Phoenix-Engemann Value 25 Fund is therefore closed
to new investors.
On or about February 23, 2001, this Fund will be closed to all
investor deposits and will be liquidated at its net asset value. Prior to such
time, shareholders may exchange their shares of The Phoenix-Engemann Value 25
Fund for shares of the same class of any other Affiliated Phoenix Fund. An
Affiliated Phoenix Fund includes any other mutual fund advised, subadvised or
distributed by the Adviser or Distributor, provided such other mutual fund
extends reciprocal privileges to shareholders of the Phoenix Funds. Shareholders
may also redeem their shares at any time prior to the Fund's liquidation on
February 23, 2001.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS FOR
FUTURE REFERENCE.
PXP 2001/V25 (1/01)
