Portfolio Manager/Sub-Investment Adviser
The fund's investment adviser is The Dreyfus Corporation (Dreyfus). The fund's primary portfolio managers are Thomas Casey and Jeffrey Burger, positions they have held since April 2011 and February 2012, respectively. Mr. Casey is a senior portfolio manager for tax sensitive strategies at Standish Mellon Asset Management Company LLC (Standish). Mr. Burger is a senior analyst for tax sensitive strategies at Standish and is a portfolio manager for certain other municipal bond funds managed by Dreyfus. Messrs. Casey and Burger are dual employees of Standish and Dreyfus and manage the fund as employees of Dreyfus.
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 12/31/14 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 gains. The Barclays 3-Year Municipal Bond Index is an unmanaged total return performance benchmark for the investment-grade, geographically unrestricted 3-year tax-exempt bond market, consisting of municipal bonds with maturities of 2-4 years.
- Duration is a measure of volatility expressed in years. The higher the number, the greater the potential for volatility as interest rates change.