VIRTUS FUNDS
497, 1996-04-17
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THE STYLE MANAGER FUND
(formerly The Strategic Stock Fund)
(A Portfolio of The Virtus Funds)

SUPPLEMENT TO  THE PROSPECTUS OF THE STYLE MANAGER FUND (FORMERLY THE
STRATEGIC STOCK FUND) DATED NOVEMBER 30, 1995 AND THE INVESTMENT SHARES
COMBINED PROSPECTUS OF THE VIRTUS FUNDS DATED NOVEMBER 30, 1995, REVISED
DECEMBER 29, 1995 AND MARCH 15, 1996.

There will be a special offering period during which the Contingent Deferred
Sales Charge will not be imposed on the redemption of shares of The Style
Manager Fund purchased during the period from April 19, 1996 to June 30,
1996.  The Contingent Deferred Sales Charge section of the Prospectus should
be noted in regard to this offering only for the aforementioned time period.

                                                               April 19, 1996
   FEDERATED SECURITIES CORP.

   Distributor
   A subsidiary of FEDERATED INVESTORS
   Federated Investors Tower
   PITTSBURGH, PA  15222-3779
   CUSIP 927913806



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