PHOENIX MULTI-PORTFOLIO FUND
PHOENIX-SENECA MID CAP FUND
Supplement dated September 15, 1999 to Prospectus dated March 30, 1999
On August 25, 1999, the Board of Trustees of Phoenix Multi-Portfolio
Fund (the "Trust") unanimously approved an Agreement and Plan of Reorganization
(the "Agreement") relating to the proposed combination of the Phoenix-Seneca Mid
Cap Fund of the Trust and the Phoenix-Seneca Strategic Theme Fund of the Phoenix
Strategic Equity Series Fund.
Pursuant to the Agreement, the Mid Cap Fund will transfer all or
substantially all of its assets to the Strategic Theme Fund in exchange for
shares of the Strategic Theme Fund and the assumption by the Strategic Theme
Fund of all liabilities of the Mid Cap Fund. Following the exchange, the Mid Cap
Fund will distribute the shares of the Strategic Theme Fund to its shareholders
pro rata, in liquidation of the Mid Cap Fund. The effectiveness of these
transactions is subject to the satisfaction of a number of conditions, including
approval by shareholders of the Mid Cap Fund. It is currently anticipated that
these matters will be submitted for a vote at a meeting of shareholders to be
held in November 1999.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE.
PXP 467/MC (9/99)
