Phoenix Duff & Phelps renames fund; new name, Strategic Allocation, represents fund's focus.HARTFORD, Conn.--(BUSINESS WIRE)--Nov. 21, 1996--Phoenix Duff & Phelps recently announced a name change to its Total Return Fund, a $330 million, flexible asset allocation mutual fund Asset allocation mutual fund A mutual fund that rotates among stocks, bonds, and money market securities to maximize return on investment and minimize risk. . The new name, effective November 15, is Phoenix Strategic Allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as Fund, Inc. "This name is more closely aligned with the Fund's goal - that is, capital appreciation through flexible allocation where and when growth opportunities exist," said Philip R. McLoughlin, Phoenix Duff & Phelps chief executive officer. "The Fund identifies opportunities - whether they be in stocks, bonds, or cash - and acts on them." The Phoenix Strategic Allocation Fund was established in 1982 and is managed by Mary E. Canning, a 14-year Phoenix Duff & Phelps veteran and integral member of the equity strategy team. "The Strategic Allocation Fund combines the strongest components of Phoenix Duff & Phelps' investment strategy, including thematic the·mat·ic adj. 1. Of, relating to, or being a theme: a scene of thematic importance. 2. equity investing and sector rotation Sector Rotation The action of a mutual fund or portfolio manager shifting investment assets from one sector of the economy to another. Notes: Not all sectors of the economy perform well at the same time. fixed-income investing, making it an all-weather fund," said Canning. "This name change brings the Fund back to its roots as a flexible asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. growth fund." The Strategic Allocation Fund takes advantage of thematic equity investing, a process which identifies growth potential based upon significant demographic, cultural and technological emerging trends. For fixed-income investments, the Fund employs a sector rotation approach, investing in up to 12 different sectors of the bond market. Phoenix Duff & Phelps is a leading global money management firm offering comprehensive products, including open- and closed-end mutual funds and institutional accounts. Phoenix Duff & Phelps is a result of the November 1995 merger between Phoenix Securities Group and Duff & Phelps Corp. Headquartered in Hartford, Conn., Phoenix Duff & Phelps manages over $34.1 billion in assets and is publicly traded on the NYSE NYSE See: New York Stock Exchange (Symbol: DUF DUF Dansk Ungdoms Fællesråd (Denmark) DUF Drug Use Forecasting DUF Daily Usage File DUF Discord Unit Frame DUF Durham Ultimate Frisbee (UK) DUF Design Up Front ). The Phoenix Funds are distributed by Phoenix Equity Planning Corp., a subsidiary of Phoenix Duff & Phelps. For more information on the Phoenix Funds, including charges and expenses, obtain a current fund prospectus by calling 800-243-4361. Please read the prospectus carefully before you invest or send money. CONTACT: Phoenix Duff & Phelps Barbara McLaughlin, 860/403-5740 or Sharon Bray, 860/403-5748 |
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