Portfolio Manager/Sub-Investment Adviser
The fund's investment adviser is The Dreyfus Corporation. The fund's primary portfolio managers are Jeffrey Burger and Thomas Casey, positions they have held since December 2009 and February 2012, respectively. Mr. Burger is a senior analyst for tax-sensitive strategies at Standish Mellon Asset Management Company LLC (Standish), an affiliate of The Dreyfus Corporation. Mr. Casey is a senior portfolio manager for tax-sensitive strategies at Standish. Messrs. Burger and Casey are also employees of The Dreyfus Corporation.
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
- Portfolio composition and allocation is as of 03/31/14 and is subject to change at any time. Totals may not be exact due to rounding. Negative exposures may represent short positions through derivatives.
- 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.
- Source: Morningstar, Inc. All rights reserved. Reflects investments of dividends and, where applicable, capital gain distributions. The Barclays Municipal Bond Index is a widely accepted, unmanaged total return performance benchmark for the long-term, investment-grade tax-exempt bond market.
- Duration is a measure of volatility expressed in years. The higher the number, the greater the potential for volatility as interest rates change.