Download Dreyfus Emerging Markets Debt U.S. Dollar Fund

Dreyfus Emerging Markets Debt U.S. Dollar Fund Jun 30
Seeking to capitalize on the growth potential of emerging economies
Class A DMEAX
Class C DMMCX
2017
Class I DMEIX
Goal/Approach
The fund seeks to maximize total return. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in emerging market
bonds and other debt instruments denominated in U.S. dollars, and in derivative instruments that provide investment exposure to such securities. The fund’s investments in bonds and
other debt instruments consist principally of U.S. dollar-denominated emerging market sovereign, quasi-sovereign and corporate bonds and notes, including loan participation notes
(LPNs).
CUSIP
Class A
Class C
Class I
26188X668
26188X650
26188X643
Assets for the Fund
$38,499,749
Holdings2
122
Growth of a $10,000
Investment1
A hypothetical $10,000
investment in the fund's
Class A shares on 12/3/14
would have been worth
$11,302 on 6/30/17.
Dividend Frequency
Monthly
Morningstar Category
US OE Emerging Markets Bond
Lipper Category
Emerging Mrkts Hard
Currency Debt
Avg. Effective Maturity2
10.1 Years
This does not reflect the 4.50% maximum front-end sales load applicable to Class A shares which, if reflected, would have lowered
performance. Assumes reinvestment of dividends and capital gains. Performance for the fund's other share classes would vary. Past
performance is no guarantee of future results.
HISTORICAL PERFORMANCE (CL.I @ NAV)4
Avg. Effective Duration2,3
6.18 Years
30-Day Yield (as of 06/30/17)
Class A
4.38%
Class C
3.88%
Class I
4.90%
Redemption Fee5 2.00%
Investment Adviser
The Dreyfus Corporation
AVERAGE ANNUAL TOTAL RETURNS (6/30/17)1
YTD
3M
1YR
Inception
Class A (NAV) 12/03/14
Share Class/Inception Date
5.62%
1.82%
7.60%
4.88%
Class A (4.50% max. load)
0.88%
-2.77%
2.76%
3.02%
Class C (NAV) 12/03/14
5.28%
1.62%
6.83%
4.09%
Class C (1.00% max. CDSC)
4.28%
0.62%
5.83%
4.09%
Class I (NAV) 12/03/14
5.83%
1.97%
7.95%
5.16%
J.P. Morgan CEMB Index Broad6
4.86%
1.66%
6.96%
—
EMD U.S. Dollar Blended Index7
5.53%
1.93%
6.25%
—
The performance data quoted represents past performance, which is no guarantee of future results. Share price and
investment return fluctuate and an investor's shares may be worth more or less than original cost upon redemption. Current
performance may be lower or higher than the performance quoted. Funds with less than 1 year's history, year-to-date and 3
month performance are not annualized. Go to Dreyfus.com for the fund's most recent month-end returns. The net expense
ratio(s) reflect a contractual expense reduction agreement through 3/1/18. Total Expense Ratios: Class A 1.31%, Class C
2.05%, Class I 1.04%. Net Expense Ratios: Class A 0.90%, Class C 1.65%, Class I 0.65%. 30-day yields reflect undertaking in
effect, without which the Fund’s 30-day yield for Class A, C and I shares would have been 4.02%, 3.60% and 4.63%,
respectively, as of 06/30/17.
1Investors should consider, when deciding whether to purchase a particular class of shares, the investment amount, class restrictions, anticipated holding period and other
relevant factors. 2Portfolio composition is as of 6/30/17 and is subject to change at any time. 3Duration is a measure of volatility expressed in years. The higher the number, the
greater potential for volatility as interest rates change. 4Performance figures may reflect reimbursements or fee waivers, without which the performance would have been
lower. 5Redemption Fee on all shares redeemed within 60 days of purchase. This fee is retained by the fund. (Not charged on shares sold through Auto Withdrawal or AutoExchange, or on shares acquired through dividend reinvestment.) Please see the fund's SAI for more details. 6Source: FactSet. The J.P. Morgan CEMB Index Broad tracks U.S.
dollar-denominated debt issued by emerging market corporations. Investors cannot invest directly in any index. 7EMD U.S. Dollar Blended Index is 50% JP Morgan EMB Index
Global and 50% JP Morgan CEMB Index Broad. Investors cannot invest directly in any index.
Class A DMEAX
Class C DMMCX
Class I DMEIX
Dreyfus Emerging Markets Debt U.S. Dollar Fund
TOP COUNTRY EXPOSURES1
TOP SECTOR ALLOCATION1
Portfolio
Index
Foreign/Governmental
28.65%
Mexico
10.93%
9.51%
Sovereign
15.15%
Brazil
8.58%
9.96%
Energy
11.67%
Russia
8.56%
6.87%
Materials
11.07%
Turkey
5.59%
4.86%
Banks
5.37%
Argentina
5.42%
2.84%
Industrial
3.94%
Kazakhstan
3.55%
1.27%
Telecommunications
2.97%
India
3.36%
2.74%
Financial
2.90%
Ukraine
3.27%
1.08%
Consumer Discretionary
2.80%
United States
2.90%
Utilities
2.28%
Senegal
2.86%
PORTFOLIO MANAGEMENT
The fund's investment adviser is The Dreyfus
Corporation (Dreyfus), and the fund’s subadviser is
Standish Mellon Asset Management Company LLC
(Standish). Federico Garcia Zamora and Josephine
Shea are the fund's primary portfolio managers. Mr.
Garcia Zamora has been a primary portfolio manager
for the fund since August 2016, and Ms. Shea has been
a primary portfolio manager for the fund since August
2015. Mr. Garcia Zamora is a director of emerging
markets strategies and portfolio manager for
emerging market local currency debt at Standish and
Ms. Shea is a portfolio manager at Standish.
0.06%
CREDIT QUALITY BREAKDOWN (%)1,2,3
ALLOCATION BY MATURITY (%)1
Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. To obtain a prospectus, or a
summary prospectus, if available, that contains this and other information about a Dreyfus fund, contact your financial advisor or visit dreyfus.com. Read
the prospectus carefully before investing. Investors should discuss with their advisor the eligibility requirements for Class I shares, which are available
only to certain eligible investors, and the historical results achieved by the fund’s respective share classes.
The Dreyfus Corporation and MBSC Securities Corporation are affiliated with The Bank of New York Mellon Corporation.
1Portfolio composition is as of 6/30/17 and is subject to change at any time. 2Bond ratings reflect the rating entity's evaluation of the issuer's ability to pay interest and repay
principal on the bond on a timely basis. 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 interest and principal. 3Credit 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.
Main Risks
Bond Risk: Bonds are subject generally to interest rate, credit, liquidity, call and market risks, to varying degrees. Generally, all other factors being equal, bond prices
are inversely related to interest-rate changes and rate increases can cause price declines. Derivatives Risk: A small investment in derivatives could have a potentially
large impact on the fund’s performance. The use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in the
underlying assets. Derivatives can be highly volatile, illiquid and difficult to value. Foreign Currency: Investments in foreign currencies are subject to the risk that those
currencies will decline in value relative to the U.S. dollar, or, in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged.
The information being provided is general information about our firm and its products and services. It should not be construed as investment advice or a recommendation
with respect to any product or service. Please consult a legal, tax or investment advisor in order to determine whether an investment product or service is appropriate for a
particular situation.
Visit www.Dreyfus.com for more information.
©2017 MBSC Securities Corporation, distributor, 225 Liberty St, 19th Fl., New York, NY 10281. RF4000BFS-0617