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Wednesday, April 13, 2011|
Dreyfus Combines Two Funds and Liquidates a Third
Dreyfus [see profile] is about to shut down two of its large cap mutual funds.
Patrice Kozlowski, a spokeswoman for Dreyfus, told The MFWire that the fund firm "continually reviews its lineup of funds in the Dreyfus Family of Funds to identify opportunities in the best interests of its shareholders."
Today the BNY Mellon subsidiary filed to merge the 11-year-old, $82.4-million Dreyfus Large Value Fund (Morningstar gives its 80-basis-point I shares three stars) into the 15-year-old, $878.4-million Dreyfus Strategic Value Fund (three stars for its 108-bps A shares) on November 21, pending shareholder approval at a special meeting on August 11 [see filing]. The Large Value Fund will close to most new investors on May 2.
In the same filing, Dreyfus also revealed plans to liquidate the 21-month-old, $566,202 Dreyfus Diversified Global Fund (A shares for 175 bps) on June 22. The fund will close to most investors on May 2.
Printed from: MFWire.com/story.asp?s=36537
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