Portfolio Manager/Sub-Investment Adviser
The investment adviser for the fund is The Dreyfus Corporation (Dreyfus).Dreyfus has engaged its affiliate, Newton Investment Management (North America) Limited ('Newton'), to serve as the fund's sub-investment adviser. Newton, subject to Dreyfus' supervision and approval, provides investment advisory assistance and research and the day-to-day management of the fund's investments. Paul Brain, Howard Cunningham and Jonathan Day serve as the fund's primary portfolio managers, positions they have held since the fund's inception. Mr. Brain is the lead portfolio manager for the fund and is the investment leader of the fixed income team and chairman of the bond/FX strategy group at Newton, where he has been employed since 2004. Mr. Cunningham is an analyst/investment manager - credit and chairman of the credit group at Newton, where he has been employed since 2000. Mr. Day is an investment manager - fixed income at Newton, where he has been employed since 2002.
|Benchmark 3||Citigroup 1 Month Treasury Bill|
|Number of Holdings||155
as of 09/30/16
|Portfolio Turnover Rate||134.49%
as of fiscal year end 10/31/15
|Average Effective Duration 4||3.3 Years
as of 09/30/16
|Average Effective Maturity||4.2 Years
as of 09/30/16
|as of 09/30/16|
|R Squared 5||54.61|
|Standard Deviation 7||1.51|
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 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.
- 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 reinvestment of dividends and, where applicable, capital gain distributions. The Citibank 30-Day Treasury Bill Index is an unmanaged index representative of three-month treasury bills.
- Duration is a measure of volatility expressed in years. The higher the number, the greater the potential for volatility as interest rates change.
- 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
- 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.
- A statistical measurement of dispersion around an average which depicts how widely fund returns varied over a certain period of time. Source: Morningstar