Fund Spotlight

Maintaining Focus in Today's Fixed Income Market

 Nearly everyone needs liquid, low-risk investments as part of their overall portfolio. But with the uncertainty in the markets, and yields on FDIC-insured CDs and other savings vehicles still hovering near historic lows, you might want to consider Dreyfus' fixed income funds to help grow your assets and provide a potentially higher income stream.

Municipal Bond Funds – One Choice for Fixed Income Investors

When it comes to your investments, it isn't just what you earn that counts. It's what you get to keep - your after-tax return. That's why individuals in higher tax brackets often try to reduce their current tax bill by seeking tax-free income. If tax savings is one of your objectives, you may be interested in mutual funds that invest in tax-exempt municipal bonds issued by states, counties, towns and other public entities across the United States.


Six Income-Boosting Ideas from Dreyfus

Below, six of our fixed income funds are highlighted - three tax-free and three taxable. One or more may be right for you, based on your financial situation. Call Dreyfus today at 1-800-752-5466 to learn more.

Seeks to maximize current income exempt from federal income tax by investing substantially all of its assets in municipal bonds.
A longer average maturity helps capture potentially higher current yields.
The funds seek to emphasize undervalued sectors that produce excess income with potential for price appreciation.
A focus on high quality, shorter maturity bonds may provide an attractive current yield pickup over fixed price money market funds.
The team of investment professionals managing the funds have a demonstrable track record managing tax sensitive fixed income.
Intermediate maturity municipal bonds that can offer an attractive risk/return profile under certain market conditions.

Focuses primarily on foreign bonds to take advantage of potentially attractive fixed income opportunities around the world.
A diversifier for domestic fixed income investments.
Generally high credit quality, short average maturity, potential yield advantage over fixed price money market funds with some additional risk.
Shorter average maturity helps reduce volatility due to interest rate movements compared to longer maturity products
Invests primarily in domestic taxable fixed income with the fund's dollar-weighted average maturity ranging between 5 and 10 years.
A solid choice for the core portion of your fixed income portfolio.

 Unlike FDIC-insured bank products, or money market funds that seek to maintain a stable $1.00 net asset value, bond mutual fund NAVs will fluctuate and involve a higher risk of principal loss. Asset allocation and diversification cannot ensure a profit or protect against loss. ______________________________________________________________

Strong. Stable. Dreyfus. Standish.
These funds are managed by the investment professionals at Standish Mellon Asset Management Company LLC, a Dreyfus affiliate. Dreyfus is the investment adviser to all six funds.*

Founded in 1951, Dreyfus is a leader in bringing institutional-quality money management from around the world to individual investors. Standish was founded in 1933 and is one of the world's largest specialists in bond management. Together, Dreyfus and Standish bring you strength, longevity and industry leadership.

What's Right for You?
Find out if these funds make sense for your portfolio. Call a Dreyfus Representative today at 1-800-752-5466 to learn more.

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.

Bond funds are subject generally to interest rate, credit, liquidity 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 are inversely related to interest-rate changes, and rate increases can produce price declines.

Foreign bonds are subject to special risks including exposure to currency fluctuations, changing political and economic conditions, and potentially less liquidity. The fixed income securities of issuers located in emerging markets can be more volatile and less liquid than those of issuers in more mature economies.

Municipal bond income may be subject to state and local taxes. Some income may be subject to the federal alternative minimum tax (AMT) for certain investors. Capital gains, if any, are taxable.

Each fund pursues a total return investment objective, which consists of capital appreciation and current income. Dreyfus International Bond Fund’s policy is to pay a quarterly dividend, if any. Currency movements can affect the levels of dividend income payable to shareholders.

Mutual fund shares, unlike bank products such as CDs, are not insured by the FDIC or the U.S. government and are subject to risk of principal loss.

*Standish portfolio managers manage Dreyfus-branded funds for Dreyfus under a dual-employee relationship, using Standish’s proprietary investment process.