Exhibit 13
Initial Capital Agreement
INITIAL CAPITAL AGREEMENT
June 28, 1988
Phoenix Multi-Portfolio Fund
000 Xxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Dear Sirs:
Phoenix Multi-Portfolio Fund (the "Trust") proposes to issue and sell
to the public shares of beneficial interest, $1 par value, of its Phoenix
Tax-Exempt Bond Portfolio (the "Shares") pursuant to a registration statement on
Form N-1A (the "Registration Statement") filed with the Securities and Exchange
Commission. In order to provide the Trust with a net worth of at least $100,000
as required by Section 14 of the Investment Company Act of 1940, as amended, we
hereby offer to purchase 10,000 Shares at a price of $10.00 per Share two days
prior to the effective date of the Registration Statement (or such earlier date
as may be agreed upon).
We will make payment for the 10,000 Shares by delivery of a certified
or official bank check payable to the order of the Trust at least two business
days prior to the date specified by the Trust as the proposed effective date of
the Registration Statement.
We represent and warrant to the Trust that the Shares are being
acquired by us for investment and not with a view to the resale or further
distribution thereof and that we have no present intention to redeem the Shares.
Please confirm that the foregoing correctly sets forth our agreement
with the Trust.
Very truly yours,
PHOENIX INVESTMENT COUNSEL, INC.
By: /s/ Xxxxxx Xxxxxx
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Xxxxxx Xxxxxx, President
Confirmed, as of the date
first above mentioned.
PHOENIX MULTI-PORTFOLIO FUND
By: /s/ Xxxxxx X. Xxxxxx
--------------------------------
Xxxxxx X. Xxxxxx, Vice President
P11.61
