Dreyfus Diversified Emerging Markets Fund

  • Ticker: DBECX
  • Product Code: 6920
  • CUSIP: 26203E711
Share Class:

Portfolio Manager/Sub-Investment Adviser

The investment adviser for the fund is The Dreyfus Corporation. Dreyfus has obtained an exemptive order from the SEC, upon which the fund may rely, to use a manager of managers approach that permits Dreyfus, subject to certain conditions and approval by the fund's board, to enter into and materially amend sub-investment advisory agreements with one or more sub-advisers who are either unaffiliated with Dreyfus or are wholly-owned subsidiaries (as defined in the Investment Company Act of 1940, as amended) of Dreyfus' ultimate parent company, BNY Mellon, without obtaining shareholder approval.

Currently, the fund has selected the following sub-advisers to manage allocated portions of the fund's assets: The Boston Company Asset Management, LLC, is a registered investment adviser and an indirect wholly-owned subsidiary of BNY Mellon. Members of TBCAM's global research team have been responsible for the day-to-day management of the portion of the fund's portfolio managed by TBCAM since January 31, 2014. The team members primarily responsible for managing the portion of the fund's portfolio managed by TBCAM are Elizabeth Slover, Michelle Y. Chan, CFA and Gaurav Patankar. Ms. Slover is a senior managing director at TBCAM, which she joined in 2005, and is the director of TBCAM's global research team. Ms. Chan is a director at TBCAM, which she joined in 2001, and is a senior research analyst on TBCAM's global research team. Mr. Patankar is a managing director at TBCAM and a portfolio manager/senior analyst on TBCAM's global research team.

Mellon Capital Management Corporation, is a registered investment adviser and an indirect wholly-owned subsidiary of BNY Mellon, founded in 1983. Warren Chiang, CFA Ronald P. Gala, CFA and Peter D. Goslin, CFA have been the portfolio managers responsible for the day-to-day management of the portion of the fund's portfolio managed by Mellon Capital since January 31, 2014. Mr. Chiang is a managing director and head of active equity strategies of Mellon Capital, which he joined in 1997. Mr. Gala is a managing director and senior portfolio manager - active equity strategies of Mellon Capital and has been employed by other current or predecessor entities of BNY Mellon since 1993. Mr. Goslin is a vice president and senior portfolio manager - active equity strategies of Mellon Capital, which he joined in 1999.

Top Holdings 2

Dry Global Emerging Mkts Cl Y 33.90%
Samsung Electronics 1.75%
Tencent Holdings 1.59%
Ishares Msci Emerging Mkts Etf 1.51%
Taiwan Semiconductor 1.12%
China Construction Bank 1.10%
Vanguard Ftse Emerging Markets Etf 1.01%
Taiwan Semiconductor Manufact, Adr 0.97%
Hyundai Motor 0.97%
Sk Hynix Inc 0.90%

Portfolio Statistics

Benchmark 3 MSCI Emerging Markets Index
Number of Holdings 215
as of 03/31/14
Portfolio Turnover Rate 67.74%
as of fiscal year end 09/30/13
P/E Ratio 4 9.34
as of 02/28/14

Risk Measures

as of 03/31/14
R Squared 5 90.29
Beta 6 1.16
Standard Deviation 7 20.52

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 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.
  2. The holdings listed should not be considered recommendations to buy or sell a security. Large concentrations can increase share price volatility.
  3. Source: Morningstar, Inc. All rights reserved. Reflects reinvestment of gross dividends and, where applicable, capital gain distributions. The Morgan Stanley Capital International Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity performance in global emerging markets. The index consists of 26 MSCI emerging market national indices. MSCI Indices reflect investable opportunities for global investors by taking into account local market restrictions on shareownership by foreigners.
  4. 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
  5. 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
  6. 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.
  7. 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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