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Phoenix Completes Zweig Acquisition


Phoenix Investment Partners of Hartford has completed its acquisition of the mutual fund business of Zweig Fund Group of New York for $135 million plus up to $29 million over the next three years, depending on revenue growth. With this acquisition, Phoenix has renamed the Zweig and Euclid open-end mutual funds the Phoenix-Zweig Funds and Phoenix-Euclid Funds. Phoenix currently has $57.5 billion of assets under management.