Dreyfus Launches Dreyfus Global Sustainability Fund
December 18 2008 - 9:00AM
PR Newswire (US)
First U.S. Mutual Fund to Use Dow Jones Sustainability World Index
(DJSI World) NEW YORK, Dec. 18 /PRNewswire-FirstCall/ -- The
Dreyfus Corporation, part of BNY Mellon Asset Management, today
announced the introduction of the Dreyfus Global Sustainability
Fund. It will be the first mutual fund offered in the United States
that uses an investable universe that includes companies comprising
the Dow Jones Sustainability World Index (DJSI World). The fund
will seek capital growth by primarily investing in stocks of
companies that have sustainable operating practices and/or produce
sustainable products or services. "The Bank of New York Mellon is
committed to sustainability and the introduction of Dreyfus' first
global sustainability fund is testament to our philosophy that you
can do well by doing good," said Phil Maisano, Vice Chair and Chief
Investment Officer for Dreyfus and Chief Investment Strategist for
BNY Mellon Asset Management. "In terms of investment opportunities,
we expect over the next several years a substantial governmental
commitment to invest in the environment. The new Dreyfus Global
Sustainability Fund is well positioned to capitalize on this growth
area." "The Dow Jones Sustainability Indexes were the first global
benchmarks to capture the performance of companies that exhibit the
highest commitment to integrating corporate sustainability
principles in their business operations or practices," said Michael
A. Petronella, president, Dow Jones Indexes. "Both Dow Jones
Indexes and SAM are enthusiastic in our efforts to provide the most
objective and reliable family of sustainability indexes available.
We do this by adhering to a transparent and rules-based approach
and by applying quality sustainability criteria." Sustainable
Practices Corporate sustainability is defined by the DJSI World as
a business approach that seeks to create long-term shareholder
value by taking advantage of opportunities and managing risks
created by economic, environmental and social developments.
Companies that maintain sustainable operating practices are those,
for example, that use the best industry practices in their
operations, provide leadership in an industry, offer the highest
levels of transparency of operations and/or demand accountability
of vendors, suppliers and customers. Companies that produce
sustainable products or services are those, for example, that
provide services to improve energy efficiency, produce products to
meet the highest levels of efficiency and/or provide technologies
to improve environmental performance. Investment Criteria In
addition to having to pass the fund's sustainability criteria, any
potential investment must also pass certain investment criteria
applied by the fund's sub-advisor, Mellon Capital Management
Corporation, an investment boutique within BNY Mellon Asset
Management specializing in global and U.S. quantitative investment
strategies. The fund's portfolio managers use a proprietary model
to rank stocks within geographic regions, countries and economic
sectors based on several characteristics, including: value, or how
a stock is priced relative to its perceived intrinsic value;
growth, in this case the sustainability or growth of earnings; and
financial profile, which measures the financial health of a
company. Mellon Capital's investment process is designed to provide
investors with investment exposure to region, country, sector and
industry characteristics generally similar to the DJSI World.
Investing with Dreyfus The fund is available primarily through
financial advisers, broker-dealers and other third-party financial
intermediaries. It invests in companies that not only meet
traditional investment standards, but also conduct business in a
manner that is believed to contribute to a better quality of life.
The fund has a minimum initial investment requirement of $1,000 for
regular accounts and $750 for individual retirement accounts.
Investors should consider the fees, charges, expenses and risks
associated with an investment in Dreyfus Global Sustainability Fund
carefully before investing. Investors should contact their
financial advisors or call 1-800-621-5291 to obtain a prospectus
which contains this and other information about the fund, and
should read the prospectus carefully before investing. The Dreyfus
Corporation, established in 1951 and headquartered in New York
City, is one of the nation's leading asset management and
distribution companies, currently managing more than $300 billion
in mutual funds and separately managed accounts. Dreyfus is part of
BNY Mellon Asset Management, a leading global provider of
investment management products and services that offers a broad
range of equity, fixed-income, hedge and liquidity management
products through individual asset management companies and multiple
distribution channels. The Bank of New York Mellon Corporation is a
global financial services company focused on helping clients manage
and service their financial assets, operating in 34 countries and
serving more than 100 markets. The company is a leading provider of
financial services for institutions, corporations and high
net-worth individuals, providing superior asset management and
wealth management, asset servicing, issuer services, clearing
services and treasury services through worldwide client-focused
team. It has $22.4 trillion in assets under custody and
administration, approximately $1.0 trillion in assets under
management and services approximately $12 trillion in outstanding
debt. Additional information is available at
http://www.bnymellon.com/. Equity funds are subject generally to
market, market sector, market liquidity, issuer and investment
style risks, among other factors, to varying degrees, all of which
are more fully described in the fund's prospectus. Investing
internationally involved special risks, including changes in
currency exchange rates, political, economic and social
instability, a lack of comprehensive company information, differing
auditing and legal standards and less market liquidity. The fund's
concentration in companies that meet the sustainability criteria
can limit the fund's investment opportunities and, potentially, its
total return potential relative to funds with a broader investment
universe. DATASOURCE: The Dreyfus Corporation CONTACT: Patrice M.
Kozlowski, +1-212-922-6030, Web Site: http://www.bnymellon.com/
Copyright