Dynamic Total Return Fund

  • Ticker: AVGRX
  • Product Code: 6142
  • CUSIP: 007565302
Share Class:

Portfolio Manager/Sub-Investment Adviser

The investment adviser for the fund is The Dreyfus Corporation (Dreyfus). Dreyfus has engaged its affiliate, Mellon Capital Management Corporation (Mellon Capital), to serve as the fund's sub-investment adviser. Mellon Capital, subject to Dreyfus' supervision and approval, provides investment advisory assistance and research and the day-to-day management of the fund's investments. 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. Messrs. Dagioglu, Stavena, Miletich and Ms. Colton are managing directors, and Mr. Zaches is a director of Mellon Capital.

Portfolio Statistics

Number of Holdings 10
as of 09/30/16
Portfolio Turnover Rate 165.55%
as of fiscal year end 10/31/15

Risk Measures

as of 09/30/16
R Squared 2 71.87
Beta 3 0.91
Standard Deviation 4 7.14

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 09/30/16 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. 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
  3. 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.
  4. 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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