Dreyfus Short Term Income Fund

  • Ticker: DSTIX
  • Product Code: 0083
  • CUSIP: 261967103
Share Class:

Portfolio Manager/Sub-Investment Adviser

The investment adviser for the fund is The Dreyfus Corporation. Investment decisions for the fund are made by a team of portfolio managers from Standish Mellon Asset Management Company LLC (Standish), an affiliate of Dreyfus. The team members are David Horsfall, CFA, and David Bowser, CFA, each of whom also is an employee of Dreyfus. The team members have served as primary portfolio managers of the fund since April 2011. Messrs. Horsfall and Bowser are jointly and primarily responsible for managing the fund's portfolio. Mr. Bowser has served as a portfolio manager of the fund since July 2008. Mr. Horsfall is deputy chief investment officer and a senior portfolio manager at Standish, responsible for overseeing the management of all single and multi-sector active fixed-income portfolios and strategies at Standish, which he joined in 1989. He also has been employed by Dreyfus since October 2010. Mr. Bowser is a director of active fixed-income strategies and a senior portfolio manager, responsible for managing a variety of multi-sector portfolios at Standish, which he joined in 2000. He also has been employed by Dreyfus since July 2006. Messrs. Horsfall and Bowser manage the fund as employees of Dreyfus. Standish investment professionals manage Dreyfus-managed funds pursuant to a dual-employee arrangement, under Dreyfus' supervision, and apply their firm's proprietary investment process in managing the funds.

Portfolio Statistics

Benchmark 3 BofA Merrill Lynch 1-5 Year Corporate/Government Index
Number of Holdings 116
as of 12/31/16
Portfolio Turnover Rate 199.63%
as of fiscal year end 07/31/16
Average Effective Duration 4 Years
as of 12/31/16
Average Effective Maturity 2.4 Years
as of 12/31/16

Risk Measures

as of 12/31/16
R Squared 5 61.02
Beta 6 0.30
Standard Deviation 7 1.18

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

Notes & Disclosures
  1. Portfolio composition and allocation is as of 12/31/16 and is subject to change at any time. Totals may not be exact due to rounding. Negative exposures may represent short positions through derivatives.
  2. Bonds rated BBB/Baa or higher are considered investment grade, while bonds rated BB/Ba or lower are considered speculative as to the timely payment of principal and interest. Credit ratings reflect only those assigned by S&P, Moody's, and/or Fitch. Split-rated bonds, if any, are reported in the higher rating category.
  3. Source: Morningstar, Inc. All rights reserved. Reflects reinvestment of dividends and, where applicable, capital gain distributions. The Merrill Lynch 1-5 Year Corporate/Government Index is an unmanaged total return performance benchmark including U.S. Government and fixed-coupon domestic investment-grade corporate bonds with maturities greater than or equal to one year and less than five years.
  4. Duration is a measure of volatility expressed in years. The higher the number, the greater the potential for volatility as interest rates change.
  5. Reflects the percentage of a fund's movements that can be explained by movements in a particular benchmark. An R-squared of 100 indicates fund movements that are perfectly correlated to those of the benchmark. In order to compare funds across general asset classes, Morningstar calculates R-squared values relative to a "standard" broad-based market index. For example, the R-squared of both a small cap, domestic equity fund and a domestic technology fund would be determined against the S&P 500 Index. Thus, the "standard" broad-based market index used by Morningstar may differ from the fund's actual benchmark stated in this factsheet. Source: Morningstar
  6. Beta is a measure of the systematic risk of a stock or a portfolio and is an indicator of expected return. A beta higher than 1.0 has higher risk than the overall market has and thus the stock or portfolio can be expected to perform in relation to the overall market in that way.
  7. A statistical measurement of dispersion around an average which depicts how widely fund returns varied over a certain period of time. Source: Morningstar
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