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Lipper Fund Awards


We have to admit, when the Lipper Awards were announced this year, we weren't a bit surprised. That's because our commitment, every single day, is to bring you access to the knowledge and insight of our diverse network of world-class asset managers, a full range of products demonstrating long-term performance and an unwavering commitment to superior client service.

Dreyfus Opportunistic Midcap Value Fund, Class A
out of 326 funds for the 3-year period

Lipper Global Classification:
Mid-Cap Core Funds
Class A     DMCVX
Class I      DVLIX
Class C     DVLCX
Dreyfus Opportunistic Small Cap Fund
out of 684 funds for the 3-year period and out of 557 funds for the 5-year period

Lipper Global Classification:
Small-Cap Core Funds
DSCVX
 
Dreyfus International Bond Fund, Class I
out of 77 funds for the 3-year period and out of 51 funds for the 5-year period

Lipper Global Classification:
International Income Funds
Class A     DIBAX
Class I      DIBRX
Class C     DIBCX
Dreyfus Greater China Fund, Class I
out of 41 funds for the 5-year period
Lipper Global Classification:
China Region Funds

Class A     DPCAX
Class I      DPCRX
Class C     DPCCX


The Ratings reflect past performance, which is no guarantee of future results. Share price and investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption.

Lipper Fund Awards recognize funds that have excelled in delivering consistently strong risk-adjusted performance, relative to their peers, for the 3-, 5- and 10-year periods, as determined by having achieved the highest Lipper Leader for Consistent Return value within each eligible classification over an individual time period. Lipper Fund Awards and Lipper Leaders for Consistent Return may be the best fit for investors who value a fund’s year-to-year consistency relative to other funds in a particular peer group. Investors are cautioned that some peer groups are inherently more volatile than others, and even Lipper Leaders for Consistent Return in the most volatile groups may not be well suited to shorter-term goals or less risk-tolerant investors. For a detailed explanation, please review the Lipper Fund Award and Lipper Leaders methodology document on www.lipperweb.com.

Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus that contains this and other information about the fund, and read it carefully before investing.

Source: Lipper Inc. Lipper Leader for Consistent Return reflects a fund's historical risk-adjusted returns, adjusted for volatility, relative to peers as of 12/31/10. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Consistent Return metrics over 3-, 5- and 10-year periods. Twenty percent of the names in each category are designated Lipper Leaders. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. Lipper Leader ratings are designed to assist investors in making asset allocation decisions and investors are urged to consult with their advisor for this purpose.

Main Risks
Equity funds are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus. Value stocks involve the risk that they may not achieve what the portfolio manager believes is their full intrinsic value, or they may decline in price.

Small and midsize companies involve greater risk because their earnings and revenues tend to be less predictable (and some companies may be experiencing significant losses), and their share prices more volatile than those of larger, more established companies. In addition, shares of smaller companies tend to be less liquid than shares of larger, more established companies.

Bond funds are subject generally to interest rate, credit, liquidity, prepayment and extension, derivative and market risks, to varying degrees, all of which are more fully described in the fund’s prospectus. Generally, all other factors being equal, bond prices move in the opposite direction of interest rate changes.

High-yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer's perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.

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. Emerging markets tend to be more volatile than the markets of more mature economies.

The stock market(s) of China, like those of other emerging market countries, has experienced significant volatility. Investing in China 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. The fund's concentration in securities of companies in China could cause the fund’s performance to be more volatile than that of a more geographically diversified fund.