PHOENIX MULTI-PORTFOLIO FUND
Supplement dated January 10, 2000 to
Statement of Additional Information dated March 30, 1999,
as supplemented July 9, 1999
The disclosure contained in the Statement of Additional Information dated March
30, 1999 is hereby supplemented as described below.
Under the heading "Portfolio Transactions," insert the following
paragraph after the first paragraph at the top of page 18:
The Adviser may use its broker/dealer affiliates, or other
firms that sell shares of the Funds, to buy and sell securities for the
Funds, provided they have the execution capability and that their
commission rates are comparable to those of other unaffiliated
broker/dealers. Directors of PXP Securities Corp. or its affiliates
receive indirect benefits from the Funds as a result of its usual and
customary brokerage commissions that PXP Securities Corp. may receive
for acting as broker to the Funds in the purchase and sale of portfolio
securities. The investment advisory agreement does not provide for a
reduction of the advisory fee by any portion of the brokerage fees
generated by portfolio transactions of the Funds that PXP Securities
Corp. may receive.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE STATEMENT OF ADDITIONAL
INFORMATION FOR FUTURE REFERENCE.
PXP 468/PSC (01/00)
