Dynamic Total Return Fund

  • Ticker: AVGYX
  • Product Code: 0206
  • CUSIP: 007565146
Share Class:

Portfolio Manager/Sub-Investment Adviser

The fund's investment adviser is The Dreyfus Corporation (Dreyfus), and the fund's subadviser is Mellon Capital Management Corporation (Mellon Capital), an affiliate of Dreyfus. Investment decisions for the fund are made by members of the Global Asset Allocation Team of Mellon Capital. The team members are Sinead Colton, Vassilis Dagioglu, James Stavena, Torrey Zaches and Joseph Miletich. Messrs. Stavena, Zaches and Miletich have each served as primary portfolio manager of the fund since June 2010, and Ms. Colton and Mr. Dagioglu have served as primary portfolio managers of the fund since December 2014 and May 2010, respectively. Messes Dagioglu, Stavena, and Miletich are managing directors, and Mr. Zaches is a director of Mellon Capital. Ms. Colton is a managing director and global investment strategist at Mellon Capital.

Top Holdings 2

SPDR S&P 500 ETF Trust 3.74%
US 10yr Fut Mar15c Exp2/20/15@114 2.69%
PowerShares DB Commodity Index Tracking Fund 1.46%
SPDR Barclays High Yield Bond ETF 0.99%
S&P Mar Option 1900 Put 0.20%
S&P Feb Option 1900 Put 0.11%
Swiss Mktindexput@8360.1852 3/20/15 0.05%
Swiss Mktindexcall@8560 3/20/15 0.03%
Swiss Mktindexput@8553 3/20/15 0.01%
S&P Jan Eom Option 1950 Put 0.00%

Portfolio Statistics

Number of Holdings 16
as of 01/31/15
Portfolio Turnover Rate 124.10%
as of fiscal year end 10/31/14
P/E Ratio 3 17.21
as of 12/31/15

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 01/31/15 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. The holdings listed should not be considered recommendations to buy or sell a security. Large concentrations can increase share price volatility.
  3. Price/earnings for a stock is the ratio of the company's most recent month-end share price to the company's estimated earnings per share (EPS) for the current fiscal year. If a third-party estimate for the current year EPS is not available, Morningstar will calculate an internal estimate based on the most recently reported EPS and average historical earnings growth rates. Price/ earnings is one of the five value factors used to calculate the Morningstar Style Box. For portfolios, this historical P/E data point is calculated by taking an asset-weighted average of the earnings yields (E/P) of all the stocks in the portfolio and then taking the reciprocal of the result. Source: Morningstar
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