Phoenix Multi-Portfolio Fund
Phoenix International Portfolio
Supplement dated May 28, 1998 to Prospectus dated March 27, 1998
On May 27, 1998, the Board of Trustees of Phoenix Multi-Portfolio Fund
approved a change of the portfolio management of the International Portfolio and
has recommended to shareholders that Aberdeen Fund Managers, Inc. be retained as
subadvisor. This recommendation will be submitted to shareholders of the
International Portfolio in a proxy statement in the coming months.
The Portfolio Managers
The following replaces the paragraph under the heading "International Portfolio"
located on page 32 of the Prospectus.
The investment and trading decisions for the International Portfolio are
made by a team of the Adviser's equity investment professionals. The
Adviser has retained Aberdeen Fund Managers, Inc. for advice and assistance
in making investment and trading decisions. Aberdeen Fund Managers, Inc.
does not have discretionary authority to manage the International
Portfolio.
Investors should retain this supplement with their prospectus for future
reference.
