THE VIRTUS FUNDS
SUPPLEMENT TO TRUST SHARES COMBINED STATEMENT OF ADDITIONAL INFORMATION DATED
NOVEMBER 30, 1995 AND INVESTMENT SHARES COMBINED STATEMENT OF ADDITIONAL
INFORMATION DATED NOVEMBER 30, 1995
Please insert the following as the fourth sentence in the third paragraph under
the section "Performance Comparisons" on page 29:
"The Style Manager Fund and The Style Manager: Large Cap Fund may also
from time to time provide information on, or use quotations from, studies
of investment analysts dealing with the management of equity portfolios on
the basis of "style" selection (i.e., value vs. growth) and stock "size"
(i.e., large cap vs. small cap) and may also use historical data
demonstrating the performance records of the value, growth, large cap and
small cap components of the equity market, and combinations thereof."
March 20, 1996
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of FEDERATED INVESTORS
FEDERATED INVESTORS TOWER
PITTSBURGH, PA 15222-3779
