Despite the redemptions experienced by money market funds in the past few months,
Morningstar analyst Bridget Hughes reports
that Dreyfus Appreciation [see profile]
took in more than $1.5 billion net of new money, making it the
Dreyfus' largest mutual fund by a margin of more than 25 percent.
What investors find attractive in this portfolio is its low, low
turnover ratio, according to Hughes, who also enumerates a number of reasons why the fund has been performing well given its partnership with subadvisor Fayez Sarofim.
The Dreyfus fund represents the only way to gain access
to that advisor; it has negotiated a 0.55 percent management fee, which is lesser than what investors would pay if they directly pay to
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