About Dreyfus

Global Energy is Severely Underrepresented in the Average Investment Portfolio According to Fayez Sarofim & Co.

Dreyfus Appreciation Fund Manager Expects More Frequent and More Volatile Cyclical Imbalances, Supporting a Bullish Secular Trend for Energy Industry

NEW YORK, April 19, 2012 – Despite the diversification and return potential of energy investments, global energy is underrepresented  in equity markets and equity portfolios, according to the newest edition of “The Long-Term Outlook for Energy” by Fayez Sarofim & Co., sub-advisor to several Dreyfus mutual funds including Dreyfus Appreciation Fund.

“Globally, the scramble for energy security remains one of the most significant issues to follow in a world that will continue to face political upheaval,” said Jeffrey M. Jacobe, Director of Investments for Fayez Sarofim & Co., who co-authored the paper.  “We expect spare capacity of global energy resources to remain thin, with more frequent and more volatile cyclical imbalances underpinning a bullish secular trend for the industry.”

Fayez Sarofim & Co., which acts as sub-advisor to several Dreyfus mutual funds including Dreyfus Appreciation Fund, discusses current challenges impacting energy including the Arab Spring and the search for alternative energy resources.  Among the key findings in this paper or “vital issues for investors to understand” include:

1) Energy consumption will rise with population growth and living standards
2) Access, technology and capital are the key drivers of the energy industry
3) The existing production base faces accelerating decline rates
4) Alternatives do not have the scale to replace hydrocarbons in the intermediate term and
5) Global energy is underrepresented in the equity markets and could gain share within the typical diversified portfolio

“Investors should consider expanding their investment approach by adopting a global investment strategy for the long-term,” said Jon Baum, Chairman and CEO of The Dreyfus Corporation. “This should include global energy, which we believe is an attractive investment for the long-term.”

“Domestic equity indices fail to capture the global nature of the business and exclude more than $1 trillion of market value in a handful of large foreign energy companies that invest within our borders,” Jacobe concluded.  “In our view, energy will remain an attractive investment opportunity within a diversified portfolio for many years to come.”

Higher oil prices demanded by OPEC, competition for LNG resources and the spread of new technology to international markets are three key themes to follow, according to the paper.  To access the complete findings, please visit https://public.dreyfus.com/documents/manual/perspectives/dry-fswp.pdf

# # #

Notes to Editors:

The Dreyfus Corporation, established in 1951 and headquartered in New York City, is one of the nation's leading asset management and distribution companies, currently managing approximately  $400 billion in mutual funds and separately managed accounts.  

BNY Mellon Asset Management is one of the world’s leading asset management organizations, encompassing BNY Mellon’s affiliated investment management firms and global distribution companies. Information about BNY Mellon Asset Management is available at www.bnymellonam.com.

BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. Additional information is available on www.bnymellon.com or follow us on Twitter@BNYMellon.

This information does not constitute investment advice and is subject change along with then-prevailing economic and market conditions.

Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. To obtain a prospectus that contains this and other information about the fund, contact your financial adviser or visit www.dreyfus.com. Read it carefully before investing.

Diversification and asset allocation cannot guarantee a profit or protect against loss.

Equity funds are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees. Investing internationally involves special risks, including changes in currency exchange rates, political, economic and social instability, a lack of comprehensive company information, differing auditing and legal standards and less market liquidity.

MBSC Securities Corporation, Distributor.