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Friday, July 30, 2010|
Dreyfus Gives Long Warning on Opportunistic Closing
BNY Mellon is giving fund investor plenty of lead time before it turns off the flows into its Dreyfus Opportunistic Small Company Value Fund (DSCVX). The bank-owned Dreyfus Funds will be closing the fund in four months at the end of November. [SEC sticker]
As is typical, the fund will remain open through employer-sponsored retirement plans and broker-dealer wrap programs.
The fund carries a four-star rating from Morningstar and holds $523 million in assets, according to the fund tracker's Web site. However, the fund reported $604 million in net assets as of the end of May, its most recently reported data.
The fund's board provided no reason for the closing.
Printed from: MFWire.com/story.asp?s=32989
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