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SIGNATURE JACKIE PORTER
TITLE ASSISTANT TREASURER
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EXHIBIT INDEX
Exhibit A:
Attachment to item 77B: Accountant's report on internal
control.
- -----------------------------------------------------------
Exhibit A:
December 17, 1998
To the Shareholders and Trustees of
Phoenix Multi-Sector Short Term Bond Fund
In planning and performing our audits of the financial
statementsof Phoenix Multi-Sector Short Term Bond Fund (the
"Fund") for the year ended October 31, 1998,we considered their
internal control, including control activities for
safeguardingsecurities, in order to determine our auditing
procedures for the purpose of expressing our opinion onthe
financial statements and to comply with the requirements of Form
N-SAR, not to provideassurance on internal control.
The management of the Fund is responsible for establishing
andmaintaining internal control. In fulfilling this
responsibility, estimates and judgments bymanagement are required
to assess the expected benefits and related costs of controls.
Generally,controls that are relevant to an audit pertain to the
entity's objective of preparing financialstatements for external
purposes that are fairly presented in conformity with generally
acceptedaccounting principles. Those controls include the
safeguarding of assets against unauthorizedacquisition, use or
disposition.
Because of inherent limitations in internal control, errors
orfraud may occur and not be detected. Also, projection of any
evaluation of internal controlto future periods is subject to the
risk that it may become inadequate because of changes
inconditions or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not
necessarilydisclose all matters in internal control that might be
material weaknesses under standardsestablished by the American
Institute of Certified Public Accountants. A material weakness
is acondition in which the design or operation of one or more of
the internal control components doesnot reduce to a relatively
low level the risk that misstatements caused by error or fraud
inamounts that would be material in relation to the financial
statements being audited may occur andnot be detected within a
timely period by employees in the normal course of performing
theirassigned functions. However, we noted no matters involving
internal control and its operation,including controls for
safeguarding securities, that we consider to be
materialweaknesses as defined above as of October 31, 1998.
This report is intended solely for the information and use
ofmanagement and the Trustees of Phoenix Multi-Sector Short Term
Bond Fund and the Securities andExchange Commission.
PricewaterhouseCoopers LLP
