PHOENIX MULTI-PORTFOLIO FUND
Supplement dated March 17, 2000 to
Prospectus dated February 28, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the International Fund and Real Estate Securities Fund will be 5.75%. For the
Emerging Markets Bond Fund and Tax-Exempt Bond Fund, the maximum sales charge
payable on Class A Shares remains at 4.75%. The reduced sales charges payable on
investments over certain amounts and the dealer discounts applicable to Class A
Shares have also changed. These changes do not affect shareholders' existing
investments in the funds. However, any future investments in Class A Shares on
or after April 3, 2000, including amounts invested under an automatic investment
plan, will be subject to the revised sales charge schedule. The prospectus is
hereby amended as described below.
The chart below provides restated Class A share average annual total returns
(for calendar year periods) for the International Fund and Real Estate
Securities Fund based on the deduction of the new maximum sales charge of 5.75%.
This chart replaces Class A share performance information in the current
prospectus on page 3 for the International Fund and page 10 for the Real Estate
Securities Fund. All other performance information contained in the current
prospectus remains unchanged.
<TABLE>
<CAPTION>
- ----------------------------------------------------- -------------- ------------------ ------------------- -------------------
AVERAGE ANNUAL TOTAL RETURNS ONE YEAR FIVE YEARS TEN YEARS LIFE OF THE
(for periods ending 12/31/99)(1) FUND(2)
- ----------------------------------------------------- -------------- ------------------ ------------------- -------------------
<S> <C> <C> <C>
International Fund Class A Shares 19.95% 16.62% 10.59% NA
- ----------------------------------------------------- -------------- ------------------ ------------------- -------------------
Real Estate Securities Fund Class A Shares -1.87% NA NA 8.63%
- ----------------------------------------------------- -------------- ------------------ ------------------- -------------------
</TABLE>
(1) Average annual total return in the table above reflect the deduction of
the maximum sales charge (5.75%) for an investment in the funds' Class
A shares.
(2) Since March 1, 1995 for the Real Estate Securities Fund.
The "Fund Expenses" tables on pages 4 and 10 of the current prospectus are
amended to reflect that the maximum sales charge (load) imposed on purchases of
Class A Shares, as a percentage of the offering price, is 5.75%.
The first of the Example tables in the current prospectus on page 5 for the
International Fund and page 11 for the Real Estate Securities Fund are amended
as follows:
<TABLE>
<CAPTION>
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
<S> <C> <C> <C> <C>
International Fund Class A Shares $722 $1,031 $1,361 $2,294
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
Real Estate Securities Fund Class A Shares $743 $1,094 $1,469 $2,519
- ---------------------------------------------------------- ----------------- ----------------- ---------------- -----------------
</TABLE>
All other information contained in the Example tables remains unchanged.
Under the heading "Sales Charges: Class A Shares" on page 31 of the current
prospectus, the first sentence is amended to read: "If you purchase Class A
Shares, you will pay a sales charge at the time of purchase equal to 5.75% of
the offering price (6.10% of the amount invested) for the International Fund and
the Real Estate Securities Fund and 4.75% of the offering price (4.99% of the
amount invested) for the Emerging Markets Bond Fund and Tax-Exempt Bond Fund."
The remainder of that paragraph remains unchanged.
The table under the heading "Sales Charges: Sales charge you may pay to purchase
Class A Shares" on page 32 of the current prospectus is replaced in its entirety
by the following:
EMERGING MARKETS BOND FUND AND TAX-EXEMPT BOND FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF
--------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED
- --------------------------------------- -------------- -------------------
<S> <C> <C>
Under $50,000 4.75% 4.99%
$50,000 but under $100,000 4.50% 4.71%
$100,000 but under $250,000 3.50% 3.63%
$250,000 but under $500,000 2.75% 2.83%
$500,000 but under $1,000,000 2.00% 2.04%
$1,000,000 or more None None
</TABLE>
INTERNATIONAL FUND AND REAL ESTATE SECURITIES FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF
--------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED
- --------------------------------------- -------------- -------------------
<S> <C> <C>
Under $50,000 5.75% 6.10%
$50,000 but under $100,000 4.75% 4.99%
$100,000 but under $250,000 3.75% 3.90%
$250,000 but under $500,000 2.75% 2.83%
$500,000 but under $1,000,000 2.00% 2.04%
$1,000,000 or more None None
</TABLE>
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS FOR
FUTURE REFERENCE.
PXP 467/SC (3/00)
<PAGE>
PHOENIX MULTI-PORTFOLIO FUND
Supplement dated March 17, 2000 to
Statement of Additional Information dated February 28, 2000
Effective April 3, 2000, the maximum sales charge payable on Class A Shares
of the International Fund and Real Estate Securities Fund will be 5.75%. For the
Emerging Markets Bond Fund and Tax-Exempt Bond Fund, the maximum sales charges
payable on Class A Shares remain at 4.75%. The reduced sales charges payable on
investments over certain amounts and the dealer discounts applicable to Class A
Shares have also changed. These changes do not affect shareholders' existing
investments in the funds. However, any future investments in Class A Shares on
or after April 3, 2000, including amounts invested under an automatic investment
plan, will be subject to the revised sales charge schedule. The Statement of
Additional Information is hereby amended as described below.
The chart below provides restated Class A share average annual total returns
(for fiscal year periods) for the International Fund and Real Estate Securities
Fund based on the deduction of the new maximum sales charge of 5.75%. This chart
replaces Class A share performance information on page 16 of the current
Statement of Additional Information. All other performance information contained
in the current Statement of Additional Information remains unchanged.
<TABLE>
<CAPTION>
- ----------------------------------------------------------------- -------------- ------------ ------------ --------------
AVERAGE ANNUAL TOTAL RETURNS 1 YEAR 5 YEAR 10 YEAR SINCE
(for periods ending 11/30/99)(1) INCEPTION(2)
- ----------------------------------------------------------------- -------------- ------------ ------------ --------------
<S> <C> <C> <C> <C>
International Fund Class A Shares 12.36% 13.71% 10.00% NA
- ----------------------------------------------------------------- -------------- ------------ ------------ --------------
Real Estate Securities Fund Class A Shares -10.17% NA NA 7.08%
- ----------------------------------------------------------------- -------------- ------------ ------------ --------------
</TABLE>
(1) Average annual total returns in the table above reflect the deduction
of the maximum sales charge (5.75%) for an investment in the funds'
Class A shares.
(2) Since March 1, 1995 for the Real Estate Securities Fund.
The table under the heading "Dealer Concessions" on page 30 of the current
Statement of Additional Information is replaced in its entirety by the
following:
EMERGING MARKETS BOND FUND AND TAX-EXEMPT BOND FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF DEALER DISCOUNT AS A PERCENTAGE
-------------------------------- -------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED OF OFFERING PRICE
- --------------------------------------- -------------- ------------------- -----------------
<S> <C> <C> <C>
Under $50,000 4.75% 4.99% 4.25%
$50,000 but under $100,000 4.50% 4.71% 4.00%
$100,000 but under $250,000 3.50% 3.63% 3.00%
$250,000 but under $500,000 2.75% 2.83% 2.25%
$500,000 but under $1,000,000 2.00% 2.04% 1.75%
$1,000,000 or more None None None
</TABLE>
INTERNATIONAL FUND AND REAL ESTATE SECURITIES FUND
<TABLE>
<CAPTION>
SALES CHARGES AS A PERCENTAGE OF DEALER DISCOUNT AS A PERCENTAGE
-------------------------------- -------------------------------
AMOUNT OF TRANSACTION AT OFFERING PRICE OFFERING PRICE NET AMOUNT INVESTED OF OFFERING PRICE
- --------------------------------------- -------------- ------------------- -----------------
<S> <C> <C> <C>
Under $50,000 5.75% 6.10% 5.25%
$50,000 but under $100,000 4.75% 4.99% 4.25%
$100,000 but under $250,000 3.75% 3.90% 3.25%
$250,000 but under $500,000 2.75% 2.83% 2.25%
$500,000 but under $1,000,000 2.00% 2.04% 1.75%
$1,000,000 or more None None None
</TABLE>
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE STATEMENT OF
ADDITIONAL INFORMATION FOR FUTURE REFERENCE.
PXP 468/SC (3/00)
